There was a slight decrease in the price of some imported food as a result of fuel prices going down and freight becoming cheaper.

The Samoa Bureau of Statistics, Import Price Index for March 2024 quarter showed an overall decrease of 6.8 per cent from the previous quarter. This reduction was mainly driven by the 13.2 per cent decrease in the price of mineral products. 

The import price index for Live Animal Products in the March 2024 quarter fell 0.9 per cent from the previous quarter. This reduction was driven by lower prices of meat products such as chicken (down 2.5 per cent). Nonetheless, the live animals and animal products index increased 3.1 percent when compared to the March 2023 quarter. The four-quarters ending March 2024 showed an increase of 4.2 percent over the four-quarters ending March 2023.

Import price index for Vegetable Products in the March 2024 quarter decreased by 4.7 per cent over the previous quarter. This was due to lower Import prices of vegetables such as onion (down 19.6 per cent), wheat (down 4.8 per cent) and rice (down 2.0 per cent). On the other hand, the vegetable products index increased by 2.1 per cent when compared to the same quarter last year. 

The import price index for animal or vegetable fats and oil products decreased by 2.6 per cent in the March 2024 quarter, reflecting lower import prices of vegetable oil (down 5.7 per cent) and sunflower oil (down 3.7 per cent). However, the animal or vegetable fats and oils index increased by 1.6 percent when compared to the corresponding quarter last year. The four quarters ending March 2024 increased by 5.3 percent when compared to the four quarters ending March 2023.

The import price index for food and beverage products rose 0.4 percent compared to the previous quarter. This was due to higher import prices of sugar (up 3.2 per cent) and pastry cook’s products (up 1.1 per cent). In comparison with the corresponding quarter of 2023, the food and beverage index increased by 12.6 per cent. 

The import price index for mineral products declined by 13.2 per cent in the March 2024 quarter from the December 2023 quarter. This was driven by lower prices of petroleum oils (down 13.9 per cent) and petroleum gases (down 7.5 per cent). As a result, the mineral products index in March 2024 quarter decreased by 6.5 per cent when compared to the March 2023 quarter. The index in the four-quarters ending March 2024 fell 16.9 per cent over the four-quarters ending March 2023.

The Import Price Index (MPI) measures changes in the cost, insurance, and freight (CIF) prices of imports of merchandise into Samoa.