Brunei’s CPI increases by 2.2pc in Sept 2021

The consumer price index (CPI) in September 2021 increased by 2.2 per cent year-on-year compared to September 2020. Prices of food and non-alcoholic beverages increased by 2.5 per cent. Meanwhile, non-food prices increased by 2.1 per cent.

The CPI increase was largely attributed to increases in the prices and costs of transport (7.8 per cent); food and non-alcoholic beverages (2.5 per cent); and restaurants and hotels (1.6 per cent).

However, this was moderated by the decrease in prices and costs of furnishings, household equipment and routine household maintenance (0.4 per cent); housing, water, electricity, gas and other fuels (0.2 per cent); and recreation and culture (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 due to the hike in food prices such as chicken; vegetables; and cooking oil. The increase in prices of chicken meat was due to the cost of chicken feed.

As for vegetables, one of the factors driving up prices is the price of seeds and chemical fertilisers from rising freight charges and shipping costs to import these materials from abroad. Meanwhile, the increase in cooking oil prices, among others, was in line with the increase in input prices such as palm oil.

Restaurants and hotels costs edged up as prices in selected menu for contract catering and in restaurants and cafes rose in line with the increase in prices of raw products.

On a month-on-month basis, the CPI in September 2021 increased by 0.4 per cent compared to August 2021. The food and non-alcoholic beverages index increased by 0.3 per cent. Meanwhile, non-food index increased by 0.4 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 September 2021 is available from the Department of Economic Planning and Statistics’ website.

Source: https://borneobulletin.com.bn/bruneis-cpi-increases-by-2-2pc-in-sept-2021/