The CPI in October 2021 increased by 1.8 per cent year-on-year (y-o-y) compared to October 2020. Prices of food and non-alcoholic beverages and non-food increased by 2.3 per cent and 1.7 per cent respectively.
The increase in prices of food and non-alcoholic beverages was due to the hike in food prices such as chicken, vegetables and cooking oil.
The increase in prices of chicken meat was due to, among others, the cost of chicken feed.
Based on information provided by the Department of Agriculture and Agrifood, Ministry of Primary Resources and Tourism (MPRT), factors driving vegetable prices include the price of seeds and chemical fertilisers from rising freight charges and shipping costs to import these materials.
Meanwhile, the increase in prices of cooking oil was from increasing input prices such as palm oil.
The increase in the non-food component was contributed by three groups: Clothing and footwear (9.5 per cent); transport (5.0 per cent); and restaurants and hotels (0.7 per cent).
Clothing and footwear prices rose due to the increase in prices of clothing materials for men and women such as cotton, polyester, silk, and lace.
Meanwhile, the increase in transport was largely attributed to the rise of prices in motor cars and air fares to selected destinations.
Restaurants and hotels activities gained momentum from increasing catering services costs.
The overall CPI increase was moderated by decreases in furnishings, household equipment and routine household maintenance (0.3 per cent); housing, water, electricity, gas and other fuels (0.2 per cent); and recreation and culture (0.2 per cent).
On a month-on-month basis, the CPI in October 2021 increased by 0.1 per cent compared to September 2021.
The Food and Non-Alcoholic Beverages Index increased by 0.7 per cent. Meanwhile, Non-Food Index decreased by 0.03 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).
The full CPI report for October 2021 is available at www.deps.gov.bn.