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March CPI 0.5pc lower y-o-y

The consumer price index (CPI) in March registered a decrease of 0.5 per cent compared to the same month last year, according to the Department of Economic Planning and Statistics (JPES).

The decrease was mainly driven by a one per cent decrease in the non-food index.

Meanwhile, the food and non-alcoholic recorded an increase of 1.5 per cent.

The decrease in the non-food index was mainly due to a fall in the prices of clothing and footwear (13.1 per cent); and communication (2.8 per cent) particularly Internet services.

Meanwhile, an increase in the food and non-alcoholic beverages index was driven by the rise in the prices of non-alcoholic beverages (10.8 per cent) particularly ready-to-consume drinks; and milk, dairy products and eggs (3.8 per cent).

Compared to February, both the food and non-alcoholic beverages index and non-food index have increased by 0.1 per cent contributing to an overall increase by 0.1 per cent in the CPI in March.

The rise in the food and non-alcoholic beverages index was contributed by the price of fish and seafood (0.7 per cent); and meat (0.4 per cent).

Meanwhile, the increase in the non-food index was due to costs of recreation and culture (1.4 per cent), particularly holiday and umrah packages; and clothing and footwear (1.2 per cent).

The CPI is a measure of price changes of basket 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).

A chart of year-on-year changes in the consumer price index in March 2024. PHOTO: JPES
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