The Consumer Price Index, CPI month-on-month decreased by 0.7 percent as compared to December 2022. This was contributed by the decrease in Non-Food. However, Food and Non-Alcoholic Beverages group increased. The department of economic planning and statistics, ministry of finance and economy in its media release stated that the month-on-month decrease in the Non-Food group was contributed by Transport; Recreation and Culture; and Communication.
The decline for Transport was primarily due to the decrease in air fares. Meanwhile, the increase in Food and Non-Alcoholic Beverages group was mainly caused by the increase in prices of Vegetables, Fish and Seafood, and Rice and Cereals. For year-on-year changes, the CPI increased by 1.4 percent compared to January 2022. The rise was driven by the increase in prices of Food and Non-Alcoholic Beverages, and Non-Food prices groups.
The year-on-year increase in Food and Non-Alcoholic Beverages group was due to the rise in Meat; Rice and Cereals; and Fish and Seafood. The price increase in Non-Food group was driven by the rise in prices of Miscellaneous Goods and Services; Restaurants and Hotels; and Housing, Water, Electricity, Gas and Other Fuels.
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 CPI full report for January 2023 is available from the DEPS website at deps.mofe.gov.bn.
Source: Radio Television Brunei