The Consumer Price Index, CPI for September 2020 increased by 1.5 per cent year-on-year compared to September 2019. The Department of Economic Planning and Statistics, Ministry of Finance and Economy in its media release also explained that prices of Food and Non-Alcoholic Beverages increased by 2.2 per cent. Meanwhile, Non-Food prices increased by 1.4 per cent.
The CPI increase was largely attributed to increases in the prices and costs of Miscellaneous Goods and Services which is 10.5 per cent; Food and Non-Alcoholic Beverages at 2.2 per cent; and Transport 0.9 per cent. However, this was moderated by the decrease in prices and costs of Restaurants and Hotels, 1.1 per cent; Recreation and Culture, 0.2 per cent; and Housing, Water, Electricity, Gas and Other Fuels, point 1 per cent.
The increase in prices of Miscellaneous Goods and Services was mainly due to increases in the price of insurance. Prices of Food and Non-Alcoholic Beverages was mainly driven by the hike in prices of fresh vegetables and fresh beef due to limited supply. Meanwhile, high mineral water and soft drinks prices were due to selected non-aerated soft drinks. The rise in prices of Transport was largely attributed to the prices of air tickets in order to cover operational costs from limited scheduled flights. On a month-on-month basis, the CPI in September 2020 increased by 0.1 per cent compared to August 2020. The Food and Non-Alcoholic Beverages Index decreased by 0.04 per cent while the Non-Food Index increased by 0.1 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. The CPI full report for September 2020 is available from DEPS’ website ‘www.deps.gov.bn’.
Source: Radio Television Brunei