In August, the Consumer Price Index (CPI) increased by 0.6 per cent compared to July. This was driven by the increase in food and non-alcoholic beverages index; and non-food index by 0.4 per cent and 0.6 per cent.
As compared to August 2021, the CPI had increased by 4.5 per cent. The rise in the CPI was contributed by the increase in food and non-alcoholic beverages; and non-food prices by seven per cent and 3.9 per cent respectively.
The increase in food and non-alcoholic beverages was due to the rise in prices of food such as meat 12.9 per cent; vegetables 10.5 per cent; and rice and cereals 4.6 per cent. The increase in chicken meat was driven by the rise in cost of chicken feed. The rise in vegetable prices was due to the increased price of fertiliser and labour cost, while the increase in the price of noodles owed to the heightened global wheat prices.
The increase in the non-food component was driven by miscellaneous goods and services 13.7 per cent; transport 5.9 per cent; and restaurants and hotels 3.2 per cent.
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 contributed by the rise in prices of motor cars and air fares. Restaurants and hotels price increase was in line with the rise in price of contract catering services following the increase in food 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 August is available from the Department of Economic Planning and Statistics website at https://deps.mofe.gov.bn.