The Consumer Price Index, CPI for May 2021 has increased by 1.1 per cent year-on-year compared to May 2020. The Department of Economic Planning and Statistics, JEPS, Ministry of Finance and Economy, in its press release stated that the prices of Food and Non-Alcoholic Beverages increased by point 9 per cent. Meanwhile, Non-Food prices increased by 1.2 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 CPI increased was largely attributed to increases in the prices and costs of Transport by 6.7 per cent; Food and Non-Alcoholic Beverages, 0.9 per cent and Restaurants and Hotels, 0.7 per cent. However, this was moderated by the decrease in prices and costs of Clothing and Footwear, Furnishings, Household Equipment and Routine Household Maintenance and Housing, Water, Electricity, Gas and Other Fuels.
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 meat especially beef and buffalo; cooking oil; and fresh fruits. The increase in the prices of beef and buffalo was, among others, due to increase in the costs of import. 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, and fast-food outlets and other eating places.
On a month-on-month basis, the CPI in May 2021 decreased by 0.1 per cent compared to April 2021. The Food and Non-Alcoholic Beverages Index decreased by point 4 per cent while the Non-Food Index decreased by 0.1 per cent. The CPI full report for May 2021 can be obtained through the JPES’ website, ‘www.deps.gov.bn’.
Source: Radio Television Brunei