​The Consumer Price Index, CPI for July 2022 decreased by point 1 per cent compared to June 2022. This was driven by the decrease in Non-Food Index by 0.3 per cent. However, the Food and Non-Alcoholic Beverage Index, showed an increased by 0.9 per cent. The Department of Economic Planning and Statistics, Ministry of Finance and Economy in its media release shared on the rise in the CPI was in line with the increase in Food and Non-Alcoholic Beverages and Non-Food prices by 6.8 per cent and 3.5 per cent respectively.

The increase in Food and Non-Alcoholic Beverages was due to the rise in prices of food such as oil and fats; meat; and fish and seafood. The rise in the price of oil and fats was primarily due to an increase in the price of cooking oil from producing countries. Chicken meat was the main contributor to the increase in meat prices, due to the increase in the cost of chicken feed. Meanwhile, the increase in the price of fish and seafood was due to shortage of fish supply caused by unfavourable weather conditions.

The increase in the Non-Food component was driven by Miscellaneous Goods and Services; Transport; and Housing, Water, Electricity, Gas and Other Fuels. Miscellaneous Goods and Services prices rose mainly due to the increase in the price of vehicle insurance. Meanwhile, the increase in Transport was mainly due to the increase in the prices of motor cars and air fares. Rising cost of maintenance and repair of the dwelling as well as prices of rental for housing drove up Housing, Water, Electricity, Gas, and Other Fuels prices.

The CPI full report for July 2022 is available at ‘deps.mofe.gov.bn’.

Source: Radio Television Brunei