The Consumer Price Index, CPI in December 2020 increased by 2 per cent year-on-year compared to December 2019. Department Of Economic Planning And Statistics Ministry Of Finance And Economy in its media release stated Prices of Food and Beverages increased by 4.7 per cent. Meanwhile, Non-Food prices increased by 1.4 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 increase was largely attributed to increases in the prices and costs of Miscellaneous Goods and Services; Food and Beverages; and Transport. However, this was moderated by the decrease in prices and costs of Clothing and Footwear; Furnishings, Household Equipment and Routine Household Maintenance; and Restaurants and Hotels.
On a month-on-month basis, the CPI in December 2020 decreased by 0.1 per cent compared to November 2020. Meanwhile, for the whole of year 2020, the CPI increased by 1.9 per cent compared to a decreased of 0.4 per cent for 2019.
The increase in the Food and Beverages Index was driven by the hike in food prices such as vegetables and meat prices for broilers, beef and buffalo meat. Among others, this is due to the increased in domestic demand from travel restrictions and limited import supply. Meanwhile, the increase in the Non-Food Index is mainly due to the increase in the price of Miscellaneous Goods and Services as well as Transport. However, it was offset by a decrease in prices of Housing, Water, Electricity, Gas and Other Fuels .The CPI full report for December 2020 and Annual 2020 is available from DEPS' website at 'www.deps.gov.bn'.
Source: Radio Television Brunei