CPI increases by 2.2pc year-on-year

The CPI in December 2021 increased by 2.2 per cent year-on-year, said the Department of Economic Planning and Statistics (DEPS) in a statement yesterday.

The prices of food and non-alcoholic beverages and non-food increased by 2.0 per cent and 2.2 per cent respectively, due to the rise in prices of food such as cooking oil at 18.1 per cent, meat at 6.6 per cent and vegetables at six per cent.

The increase in prices of cooking oil was due to short supply and wet season in exporting countries, said the agency.

Meanwhile, the increase in prices of beef and buffalo meat was due to rising demand and COVID-19 induced supply chain disruptions. Chicken meat prices also increased due to the rising cost of chicken feed.

Based on information from the Department of Agriculture and Agrifood at the Ministry of Primary Resources and Tourism (MPRT), factors driving vegetable prices include supply shortages due to unfavourable weather condition. The increase in non-food components was driven by three commodity groups – clothing and footwear at 11.2 per cent; transport at 5.9 per cent; and miscellaneous goods and services at 1.6 per cent.

Clothing and footwear prices rose mainly due to the increase in prices of women’s outer clothing and clothing material for women such as cotton, polyester, silk fabric, and lace.

Meanwhile, the increase in transport was largely attributed to the rise of prices in motor cars and air fares to selected destinations due to a limited number of flights. Miscellaneous goods and services increased mainly due to an increase in the service cost of employment agencies.

Indices which registered decreases were housing, water, electricity, gas and other fuels at 0.2 per cent and recreation and culture at 0.1 per cent.

For month-on-month changes, the CPI in December 2021 increased by 0.2 per cent compared to the previous month. The food and non-alcoholic beverages index increased by 0.7 per cent while the non-food Index increased by 0.1 per cent.

For 2021, the CPI increased by 1.7 per cent compared to 2020. The food and non-alcoholic beverages index and the non-food index increased by 2.4 per cent and 1.6 per cent, 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 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 December 2021 and Annual 2021 is available from the DEPS website at https://deps.mofe.gov.bn.

Source: Ministry of Finance Brunei Darussalam

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