In June 2022, the consumer price index (CPI) increased by 0.8 per cent compared to May 2022. This was driven by the increase in food and non-alcoholic beverages index and non-food index by 0.5 per cent and 0.8 per cent respectively.
As compared to June 2021, the CPI had increased by 3.9 per cent. The rise in the CPI was in line with the increase in food and non-alcoholic beverages and non-food prices by 5.8 per cent and 3.5 per cent respectively.
The increase in food and non-alcoholic beverages was due to the rise in prices of food such as oil and fats 23.7 per cent; meat 12.4 per cent; and fish and seafood 7.3 per cent. The rise in the price of oil and fat is primarily due to an increase in the price of cooking oil from producing countries. Chicken meat is the main contributor to the increase in meat prices, due to the increase in the cost of chicken feed. Meanwhile, the rise in fish and seafood prices is due to the increase in supplier’s operational costs and logistic costs.
The increase in the non-food component was driven by miscellaneous goods and services 14.0 per cent; transport 5.3 per cent; and housing, water, electricity, gas and other fuels 2.3 per cent.
Miscellaneous goods and services prices rose mainly due to the increase in the price of vehicle insurance. Meanwhile, the increase in Transport was mainly due to the increase in motor cars and air fares. Rising cost of maintenance and repair of the dwelling as well as prices of rental for housing drove up housing, water, electricity, gas and other fuels prices.
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). The CPI full report for June 2022 is available from https://deps.mofe.gov.bn.