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Brunei: CPI increases 1.7% in June – rising prices of transport and food
The Consumer Price Index (CPI) in June 2021 increased by 1.7 per cent year-on-year compared to June 2020. Prices of food and non-alcoholic beverages increased by 1.6 per cent. Meanwhile, non-food prices increased by 1.7 per cent.
The CPI increase was largely attributed to increases in the prices and costs of transport (seven per cent); food and non-alcoholic beverages (1.6 per cent); and restaurants and hotels (1.5 per cent). However, this was moderated by the decrease in prices and costs of furnishings, household equipment and routine household maintenance (1.6 per cent); clothing and footwear (0.3 per cent) and housing, water, electricity, gas and other fuels (0.2 per cent).
The increase in prices of transport was largely attributed to the rise in prices of motor cars followed by air tickets in light of limited number of scheduled flights.
The increase in prices of food and non-alcoholic beverages was mainly due to the hike in food prices such as beef and buffalo meat; cooking oil; and vegetables. The increase in the prices of beef and buffalo meat was, among others, due to the increase in cost of import. Meanwhile, the increase in cooking oil prices, among others, was in line with the increase in input prices such as palm oil.
The rising costs of restaurants and hotels were driven by the increase in prices in selected menu for contract catering as well as in restaurants and cafes. The price increase in selected menu was in line with the increase in prices of raw products.
On a month-on-month basis, the CPI in June 2021 increased by 0.6 per cent compared to May 2021. The food and non-alcoholic beverages Index increased by 0.1 per cent while the non-food index decreased by 0.7 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 CPI full report for June 2021 is available from Department of Economic Planning and Statistics’ (DEPS) website www.deps.gov.bn.