The Consumer Price Index (CPI) in November 2021 increased by 1.9 per cent year-on-year (y-o-y), compared to November 2020, while the price of food and non-alcoholic beverages at 2.4 per cent and non-food at 1.8 per cent, according to a statement from the Department of Economic Planning and Statistics (DEPS) at the Ministry of Finance and Economy.
For food and non-alcoholic beverages, the increase was due to the rise in food prices, such as beef, buffalo and chicken meat; cooking oil; and vegetables, the agency said.
“The increase in prices of beef and buffalo meat was due to the rising demand pandemic-induced supply chain disruptions,” the DEPS. “The increase in prices of chicken meat was due to the rising cost of chicken feed. As for cooking oil, the increase in prices was mainly due to the rise in input prices of vegetable oil and palm oil.”
Based on the information from the Department of Agriculture and Agrifood at the Ministry of Primary Resources and Tourism, it added, factors driving vegetable prices include the price of seeds and chemical fertilisers from rising freight charges and shipping costs.
The agency also saw the price increase in the non-food category driven by three commodity groups: clothing and footwear (7.9 per cent); transport (5.3 per cent); and miscellaneous goods and services (1.2 per cent).
“Clothing and footwear prices rose mainly due to the increase in prices of clothing materials for women, such as cotton, polyester, silk fabric and lace,” said the DEPS.
“The increase in transport was largely attributed to the rise of prices in motor cars and air fares to selected destinations. Miscellaneous goods and services increased mainly due to an increase in the cost of employment agencies’ services.”
The overall CPI, the agency added, was moderated by a 0.2-per-cent decrease in housing, water, electricity, gas and other fuels.
On a month-on-month basis, the November 2021 CPI increased by 0.3 per cent from October 2021; the food and non-alcoholic beverages index increased by 0.7 per cent while the non-food index by 0.1 per cent.
The CPI is a measure of price changes in goods and services paid by the consumer in a specific 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 November 2021 is available from the DEPS website at www.deps.gov.bn.