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2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 PRICES Domestic inflation in 2010 was influenced by upward pressure from imported commodity prices, associated with the global economic recovery. In particular, international oil prices remained high and trended upwards in 2010, as world demand regained momentum, led by emerging economies. Inflation, as measured by the percentage change in the 12-month moving average of the Consumer Price Index Inflation Rate 8% 6% 4% 2% 0% -2% (Moving Average) (CPI),increased by 1.9 percent in 2010 compared with1.0 percent in 2009. However, the point-to-point measure of inflation at the end of 2010 shows that consumer prices declined by 0.6 percent, down from an increase of 1.1 percent posted in December 2009. As inflation in Saint Lucia is largely determined by movements in imported prices, it is useful to analyze price developments in Saint Lucia‟s main trading partners. Saint Lucia‟s main trading partners, the US and the UK, recorded inflation rates of 1.4 and 3.7 percent respectively. Meanwhile, the impact of higher global food and oil prices underpinned the noticeable increases in the price levels in CARICOM states. Inflation rates of 7.0 percent and 9.6 percent were recorded in Trinidad &Tobago and Jamaica respectively. Guyana and Barbados registered lower increases in consumer prices of 2.9 percent and 5.5 percent respectively. Saint Lucia‟s inflation rates compared favourably with that of other ECCU countries. The rise in the overall CPI during the review period reflected increases in all the subindices with the exception of health, communication, recreation & culture and restaurants & hotels. The housing, water, electricity, gas, and other fuels sub-index provided the major impetus for inflation, increasing by 5.3 percent in the review period. This was driven by higher world oil prices which filtered fully to consumers due to the market pass-through pricing systems applied on fuel and electricity. The cost of electricity is estimated to 30
have increased by 11.5 percent in 2010 while increases in fuel prices ranged from 5.9 percent for the 100 pound cylinder of LPG to 15.2 percent for the 20 pound LPG cylinder. The retail prices of gasoline and diesel rose by 10.4 percent and 7.8 percent respectively. There was a pronounced upturn of 23.5 percent in the education sub-index which contributed significantly to overall inflation. A notable increase in the cost of tertiary education was for the most part responsible for this upward movement. The food and non-alcoholic beverages sub-index, the largest in the CPI basket, moved up by 0.5 percent during the review period, easing from the 3.8 percent hike registered in 2009. This is to some extent a result of government‟s continued, though larger, subsidization of price controlled basic food items, such as rice, flour and sugar. During the review period, clothing & footwear cost 9.3 percent more than in the previous year while the price of alcoholic beverages, tobacco & narcotics rose by 4.0 percent, owing to tax increases. The cost of furnishing, household equipment & maintenance increased at a decelerated pace of 2.4 percent. Reflective of unchanged bus and taxi fares, the transport sub-index remained relatively unchanged. Downward movements were recorded in the health (0.4 percent), communications (1.0 percent) and the hotel and restaurant (0.9 percent) sub-indices, albeit with little impact on the overall consumer price index (CPI). 31
Page 2 and 3: NOTE /ACKNOWLEDGEMENT The data cont
Page 4 and 5: List of Tables Page 1. Selected Glo
Page 6 and 7: Area SAINT LUCIA - DATA SHEET (Squa
Page 9 and 10: CHAPTER ONE EXTERNAL ECONOMIC DEVEL
Page 11 and 12: The adverse effects of the financia
Page 13 and 14: 61.2 percent of GDP. The external c
Page 15 and 16: Growth in the tourism sector is est
Page 17 and 18: oxes and clothing materials account
Page 19 and 20: for 42.2 percent of stay-over arriv
Page 21 and 22: ates posted by some hotels. All cat
Page 23 and 24: Additionally, the decline of 30.4 p
Page 25 and 26: During 2010, the performance of the
Page 27 and 28: which led to a 46.1 percent contrac
Page 29 and 30: Economic Infrastructure During the
Page 31 and 32: Table 5: Summary of Expenditure on
Page 33 and 34: TRANSPORT Preliminary indicators su
Page 35 and 36: US$ per barrel Road Transport The c
Page 37: Reflective of growing demand, elect
Page 41 and 42: 2000/01 2001/02 2002/03 2003/04 200
Page 43 and 44: EC$M) Non-Tax Revenue Despite a 16.
Page 45 and 46: Current Transfers Spending on curre
Page 47 and 48: million. There was also an increase
Page 49 and 50: epresenting 25.3 percent of central
Page 51 and 52: Credit by Economic Activity A revie
Page 53 and 54: Insurance 4 The global financial cr
Page 55 and 56: Financial Performance The industry
Page 57 and 58: CHAPTER SIX EXTERNAL SECTOR TRADE A
Page 59 and 60: upward movement of 16.9 percent was
Page 61 and 62: estimated pick-up in remittances fr
Page 63 and 64: An analysis of the population data
Page 65 and 66: Recurrent expenditure per primary s
Page 67 and 68: Efficiency The number of dropouts h
Page 69 and 70: Quality The number of teachers incr
Page 71 and 72: Skills Training The National Enrich
Page 73 and 74: Notwithstanding the dampening effec
Page 75 and 76: CENTRAL GOVERNMENT FISCAL OPERATION
Page 77 and 78: Economic Activity 2000 2001 2002 20
Page 79 and 80: TABLE 4 (Rebased) Gross Domestic Pr
Page 81 and 82: 2001r 2002r 2003r 2004r 2005r 2006r
Page 83 and 84: TABLE 8 MONTHLY ARRIVALS BY CATEGOR
Page 85 and 86: Period 2000 2001 2002 2003 2004 200
Page 87 and 88: Country 1997 1998 1999 2000 2001 20
Page 89 and 90:
TABLE 18 EGG PRODUCTION 2004 2005 2
Page 91 and 92:
TABLE 24 MANUFACTURING PRODUCTION C
Page 93 and 94:
TABLE 26 AIRPORT TRAFFIC STATISTICS
Page 95 and 96:
2004 2005 2006 2007 2008r 2009r 201
Page 97 and 98:
2001 2002 2003 2004 2005 2006 2007
Page 99 and 100:
TABLE 33 CONSUMER PRICE INDEX Annua
Page 101 and 102:
2002/03 2003/04 2004/05 2005/06r 20
Page 103 and 104:
2002/03 2003/04 2004/05 2005/06 200
Page 105 and 106:
TABLE 40 TOTAL PUBLIC SECTOR OUTSTA
Page 107 and 108:
TABLE 42 DISTRIBUTION OF GOVERNMENT
Page 109 and 110:
LISTING OF OFFICIAL DEBT as at Dece
Page 111 and 112:
LISTING OF OFFICIAL DEBT as at Dece
Page 113 and 114:
TABLE 45 Composition of Debt by Eco
Page 115 and 116:
DEPOSITS 2003 2004 2005r 2006 2007
Page 117 and 118:
2004 2005 2006 2007 2008 2009 2010
Page 119 and 120:
2003 2004 2005 2006 2007 2008r 2009
Page 121 and 122:
TABLE 55 IMPORTS BY STANDARD INTERN
Page 123 and 124:
TABLE 59 DOMESTIC EXPORTS BY STANDA
Page 125 and 126:
TABLE 62 BALANCE OF PAYMENTS (EC$Mi
Page 127 and 128:
TABLE 64 ESTIMATED MID-YEAR POPULAT
Page 129 and 130:
TABLE 66 PRIMARY SCHOOLS ANALYSIS O
Page 131 and 132:
TABLE 68 CAMBRIDGE ADVANCED LEVEL E
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