CPI up by 2.6pc due to pandemic

The consumer price index (CPI) increased by 2.6 per cent last June, compared to the previous month.

This was highlighted by the Department of Economic Planning and Statistics (JPES) at the Ministry of Finance and Economy in a report yesterday.

Prices of food and non-alcoholic beverages increased by 2.8 per cent, while prices of non-food items up by 2.5 per cent.

“The CPI increase was largely attributed to increases in the prices and costs of miscellaneous goods and services (11.6 per cent), food and non-alcoholic beverages (2.8 per cent), and clothing and footwear (11.5 per cent),” said the agency in a statement.

It continued that the rise in prices, especially among miscellaneous goods and services, was due to “an increase in the price of insurance, specifically car insurance, compared to the previous year”, while “limited imports due to the spread of COVID-19 in the country and neighbouring countries have led to a hike in the prices of food and non-alcoholic beverages, especially imported vegetables, soft drinks and meat”.

Meanwhile, the department said, the increase in the prices of clothing and footwear was attributed to the increase in the prices of garments, clothing material and shoes.

On a month-on-month basis, June CPI increased by 0.03 per cent compared to the previous month. The Food and Non-Alcoholic Beverages Index dropped by 0.6 per cent, while the Non-Food Index went up by 0.2 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 can be obtained from the JPES website at www.deps.gov.bn.