This office lease states the conditions of the annual rental rate currently specified to be paid by the tenant (the "Base Rent"). This shall be used as a basis to calculate additional rent as of the times and in the manner set forth in this form to be paid by the tenant.
The Virgin Islands Consumer Price Index (VI CPI) is an economic indicator that measures changes in the average prices of goods and services consumed by households in the Virgin Islands. It acts as an important tool for monitoring and assessing inflation trends in the region. The VI CPI is published by the Virgin Islands Bureau of Economic Research (VIBER) on a regular basis to provide policymakers, businesses, and individuals with valuable insights into the local cost of living. The Virgin Islands CPI is calculated using a basket of goods and services that represents the typical consumption patterns of households in the region. This basket includes items such as food, housing, transportation, healthcare, education, and recreational activities. The prices of these goods and services are collected from various sources, including surveys, retail outlets, and government agencies. The VI CPI is based on the concept of a "base year," which serves as a reference point for comparison. The base year is assigned a value of 100, representing the average price level during that year. Any changes in the index value from the base year reflect the percentage increase or decrease in prices over time. For example, an index value of 120 indicates a 20% increase in prices compared to the base year. It is important to note that there are different types of Virgin Islands Consumer Price Index, each targeting specific segments of the population or considering specific factors. Some of these indexes include: 1. All Items CPI: This index includes the prices of all goods and services in the consumer basket, providing a comprehensive overview of overall price changes in the Virgin Islands. 2. Core CPI: This index excludes more volatile components such as food and energy prices, aiming to capture a more stable measure of inflation over time. It helps policymakers and economists assess underlying inflation trends that are less influenced by short-term fluctuations. 3. Housing CPI: This index specifically focuses on housing-related expenses, such as rent, mortgage interest, and property taxes. As housing costs are a significant component of household budgets, this index provides valuable insights into housing affordability and market trends. 4. Transportation CPI: This index tracks the changes in prices related to transportation services, including gasoline, public transport fares, and vehicle maintenance costs. It helps evaluate the impact of fuel prices and transportation policies on consumer spending patterns. 5. Food CPI: This index monitors the prices of food items such as groceries and dining out. It plays a crucial role in assessing the impact of agricultural conditions, supply chain disruptions, and changes in consumer preferences on food prices. These different types of Virgin Islands Consumer Price Indexes offer a nuanced understanding of inflationary pressures on specific sectors and allow policymakers to make informed decisions related to economic policies, fiscal planning, and social welfare programs. Regular updates and analysis of the VI CPI provide businesses and individuals with the necessary information to adjust their budgets and investments according to prevailing economic conditions in the Virgin Islands.
