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Brunei: CPI fell by 0.7 per cent year-on-year in June
The Consumer Price Index (CPI in June 2019 recorded a decreased by 0.7 per cent year-on-year compared to June 2018, according to a press release from the Department of Economic Planning and Development (JPKE), Ministry of Finance and Economy.
Prices of Food and Non-Alcoholic Beverages decreased by 0.5 per cent. Non-Food prices also decreased by 0.7 per cent.
The CPI decrease was largely attributed to decreases in the prices and costs of Transport (4.0 per cent); Clothing and Footwear (2.6 per cent); and Housing, Water, Electricity, Gas and Other Fuels (2.0 per cent).
However, this was moderated by increases in the prices and costs of Restaurants and Hotels (4.5 per cent); Recreation and Culture (1.9 per cent); and Education (0.3 per cent).
Prices of Transport decreased following the decrease in prices of cars and flight tickets.
Meanwhile, the decrease in the prices of Clothing and Footwear was due to lower prices of garments, clothing material as well as tailoring and cleaning charges. The decline in Housing, Water, Electricity, Gas and Other Fuels was attributed to the reduced prices of rental and materials for the maintenance and repair of dwellings.
On a month-on-month basis, the CPI in June 2019 increased by 0.01 per cent compared to May 2019. The Food and Non-Alcoholic Beverages Index increased by 0.3 per cent, while the Non-Food Index decreased by 0.05 per cent.
The JPKE has released the monthly Consumer Price Index (CPI) statistics using the new base year.
In accordance to international recommendations, JPKE revised the weigths and the basket of goods and services for the CPI based on the results of the Household Expenditure Survey 2015/16 to reflect the latest pattern of household expenditure.
Starting with the June 2019 release, the CPI is now using the new base year 2015 to replace the previous base year 2010.
CPI data from January 2019 until May 2019 have also been revised.
CPI is a measure of price changes of goods and services paid by the consumer in a specified period.
The CPI full report for June 2019 together with information regarding the new base year is available on JPKE’s website: www.depd.gov.bn.
Source: https://borneobulletin.com.bn/cpi-fell-0-7-per-cent-year-year-june/