The CPI in July 2019 decreased by 0.5 per cent year-on-year compared to July 2018. Prices of Food and Non-Alcoholic Beverages decreased by 0.6 per cent. Non-Food prices also decreased by 0.5 per cent.
The CPI decrease was largely attributed to decreases in the prices and costs of Transport (4.2 per cent); Housing, Water, Electricity, Gas and Other Fuels (2.0 per cent); and Food and Non-Alcoholic Beverages (0.6 per cent). However, this was moderated by increases in the prices and costs of Restaurants and Hotels (4.7 per cent); Recreation and Culture (2.7 per cent); and Education (0.3 per cent).
Prices of Transport decreased following the decrease in prices of motor cars and air tickets. Meanwhile, the decrease in the prices of Housing, Water, Electricity, Gas and Other Fuels was due to lower prices of rentals for housing and materials for the maintenance and repair of the dwelling. The decline in Food and Non-Alcoholic Beverages was attributed to the reduced prices of biscuits, eggs, and chicken.
On a month-on-month basis, the CPI in July 2019 increased by 0.5 per cent compared to June 2019. The Food and Non-Alcoholic Beverages Index increased by 0.2 per cent, while the Non-Food Index decreased by 0.5 per cent.
The CPI is a measure of price changes of goods and services paid by the consumer in a specified period and compiled on a monthly basis. The list of goods and services in the CPI is based on the average expenditure per household from the Household Expenditure Survey (HES).