In 2024, the inflation rate recorded a 0.4 per cent decrease compared to 2023. This was attributed to a 0.6 per cent decrease in the non-food index, following a decline in the prices of transport (1.2 per cent), and clothing and footwear (3.3 per cent). Meanwhile, the food and non-alcoholic beverages index showed an increase of 0.5 per cent, primarily due to prices of non-alcoholic beverages (6.1 per cent).
COMPARISON OF DECEMBER 2024 WITH DECEMBER 2023
The Consumer Price Index (CPI) in December 2024 registered a 0.5 per cent decrease compared to December 2023, driven by declines of 1.2 per cent in the food and non-alcoholic beverages index, and 0.3 per cent in the non-food index.
The decrease in the food and non-alcoholic beverages index was contributed by lower chicken meat prices under the meat category (3.7 per cent), due to a reduction in the cost of chicken feed. Additionally, the fish and seafood category saw a decrease of 2.4 per cent, following a fall in the prices of fresh fish and prawns from importing countries.
As for the non-food index, the decline was influenced by lower prices of motor cars leading to a 2.5 per cent drop in the transport category.
Meanwhile, the housing, water, electricity, gas and other fuels category recorded a decline of 0.9 per cent, particularly in the price of maintenance and repair of the dwellings.
COMPARISON OF DECEMBER 2024 WITH NOVEMBER 2024
For a month-on-month comparison, the CPI in December 2024 increased by 0.9 per cent from November 2024. This was driven by an increase in both indices: a 0.1 per cent rise in the food and non-alcoholic beverages index, and a 1.1 per cent rise in the non-food index.
The increase in the food and non-alcoholic beverages index was mainly driven by the prices of vegetables (1.7 per cent); and fish and seafood (0.6 per cent). The non-food index was primarily contributed by the price increases in transport (4.6 per cent); and recreation and culture (1.5 per cent).
The CPI measures price changes in a basket of goods and services purchased by consumers over a specific period and is compiled monthly.
The list of items in the CPI is based on average household expenditure data from the Household Expenditure Survey (HES).
The full December and annual 2024 CPI report is available on the Department of Economic Planning and Statistics website at https://deps.mofe.gov.bn.
