9 Jul 2007

American Samoa inflation rate over 3 per cent

9:23 am on 9 July 2007

American Samoa's inflation rate reached 3.1% for the second quarter of 2007 according to statistics released by the Department of Commerce.

The transportation group recorded the highest increase of 5.5% which was attributed to higher oil prices and motor vehicle parts.

The miscellaneous group had the second highest increase at 3.3%. This was due to increases in the cost of over the counter medicine, entertainment and stationary.

The Food group went up 3 percent with increases in the cost of meat, fish, fruits and vegetables and nearly all other imported goods.

Annual inflation rates for the past five years have remained at 3 and 4 % except in the later part of 2004 and early 2005 when it peaked at 8-9%.