Consumer Price Index in December 2021 Increases

The Consumer Price Index, CPI in December 2021 increased by 2.2 percent year-on-year compared to December 2020. The prices of Food and Non-Alcoholic Beverages and Non-Food increased by 0.2 percent and 2.2 percent respectively. For Food and Non-Alcoholic Beverages, the increase was due to the rise in prices of food such as cooking oil 18.1 percent, meat 6.6 percent and vegetables, 6 percent.

The increase in prices of cooking oil was due to, among others, short supply and wet season in exporting countries. Meanwhile, the increase in prices of beef and buffalo meat was due to, among others, rising demand and COVID-19 induced supply chain disruptions. Chicken meat prices also increased due to, among others, rising cost of chicken feed. Based on the information from the Department of Agriculture and Agrifood, Ministry of Primary Resources and Tourism, factors driving vegetable prices include supply shortages due to the unfavourable weather factor.

The increase in the Non-Food component was driven by three commodity groups namely Clothing and Footwear 11.2 percent; Transport 5.9 percent; and Miscellaneous Goods and Services 1.6 percent. Clothing and Footwear prices rose mainly due to the increase in prices of women's outer clothing and clothing material for women. Meanwhile, the increase in Transport was largely attributed to the rise of prices in motor cars and air fares to selected destinations due to limited number of flights. Miscellaneous Goods and Services increased mainly due an increase in the service cost of employment agencies.

Indices which registered decreases were Housing, Water, Electricity, Gas and Other Fuels 0.2 percent and Recreation and Culture point 1 per cent. For month-on-month changes, the CPI in December 2021 increased by 0.2 percent compared to November 2021. The Food and Non-Alcoholic Beverages Index increased by 0.7 percent while the Non-Food Index increased by 0.1 percent.

For the whole of year 2021, the CPI increased by 1.7 percent compared to 2020. The Food and Non-Alcoholic Beverages Index and the Non-Food Index have increased by 2.4 percent and 1.6 percent respectively. The increase in the Food and Non-Alcoholic Beverages Index was mainly due to rising prices of beef, buffalo and chicken meat. Meanwhile, the increase in the Non-Food Index was mainly due to the increase in the costs of Transport as well as Restaurants and Hotels.

The CPI full report for December 2021 and Annual 2021 is available from DEPS' website: deps.mofe.gov.bn.

Source: Radio Television Brunei

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