The Consumer Price Index (CPI) increased by 0.2 per cent in September, 2022, as compared to August, 2022. This was driven by the increase in food and non-alcoholic beverage index (0.1 per cent), and non-food index (0.2).
As compared to September 2021, the CPI had increased by 4.3 per cent. The rise in the CPI was parallel with the increase in prices of food and non-alcoholic beverages (6.7 per cent), and non-food (3.7) prices.
The increase in food and non-alcoholic beverages was due to the rise in food prices such as oil and fats (25.7 per cent); meat (12.8); and rice and cereals (4.9).
The rise in oil and fats was mainly caused by the increase in prices of cooking oil from producing countries.
Chicken meat prices contributed to the rise in meat prices due to the high cost of chicken feed. Furthermore, the price of noodles rose following heightened global wheat prices.
The increase in the non-food component was driven by miscellaneous goods and services (13.8 per cent); transport (5.9); and restaurants and hotels (3.9).
Miscellaneous goods and services prices rose mainly due to the increase in the price of vehicle insurance influenced by the market prices of cars. The increase in the prices of transport is mainly contributed by the rise in prices of air fares.
Moreover, restaurants and hotels price increase was in line with the rise in cost of contract catering services.
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).
