27 C
Brunei
Friday, February 3, 2023
27 C
Brunei
Friday, February 3, 2023
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    CPI for October down month-on-month, up year-on-year

    The Consumer Price Index (CPI) decreased by 0.6 per cent in October 2022, as compared to the month before. This was driven by the decrease in non-food index by 0.8 per cent.

    However, food and non-alcoholic beverages index showed an increase of 0.1 per cent.

    This was revealed by the Department of Economic Planning and Statistics of the Ministry of Finance and Economy in a release.

    The decrease in non-food index was driven by clothing and footwear (four per cent); transport (2.2); and communication (one).

    The fall in the clothing and footwear prices was mainly due to the price of clothing which was in line with the sales promotion hosted by several premises in the country.

    In addition, the decrease in transport was contributed by the decrease in air fares.

    Furthermore, the drop in communication prices was due to lower prices in telephone and telefax services.

    On the other hand, the increase in food and non-alcoholic beverages was due to the rise in food prices such as rice and cereals (0.5 per cent); fruits (0.5); and fish and seafood (0.2).

    The increase in rice and cereals was mainly due to the price hike of input materials for cakes, pastries and biscuits.

    Meanwhile, imported non-tropical fruits were the main contributor to the increase in the prices of fruits, due to increase in production input cost in producing countries as well as logistics and transportation costs.

    The rise in the prices of fish and seafood was mainly contributed by the increase in price of prawns caused by the supply of prawns being affected by the unpredictable weather.

    As compared to October 2021, the CPI had increased by 3.5 per cent. The rise in the CPI was parallel with the increase in prices of food and non-alcoholic beverages, and non-food prices by 6.1 per cent and 2.9 per cent respectively.

    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.

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