The Consumer Price Index, CPI in March 2022 increased by 3.8 per cent year-on-year compared to March 2021. The rise in the CPI was in line with the increase in Non-Food and Food and Non-Alcoholic Beverages prices by 3.9 per cent and 3.4 per cent, respectively. The Department of Economic Planning and Statistics, Ministry of Finance and Economy in its media release shared that for month-on-month changes, the CPI in March 2022 increased by 0.9 per cent compared to February 2022. The Food and Non-Alcoholic Beverages Index increased by 0.6 per cent, while the Non-Food Index increased by 1 per cent.

 The increase in the Non-Food component was driven by Miscellaneous Goods and Services by 18.1 per cent, Transport 6 per cent, and Housing, Water, Electricity, Gas and Other Fuels 2.1 per cent.

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 motor cars and air fares. Rising prices of rental for housing as well as maintenance and repair of the dwelling drove up Housing, Water, Electricity, Gas and Other Fuels prices.

The increase in Food and Non-Alcoholic Beverages was due to the rise in prices of food such as cooking oil by 27.5 per cent; chicken meat 8.5 per cent; and fresh fish 7.7 per cent. The increase in cooking oil was mainly due to the rise in input prices of vegetable oil and palm oil. Meanwhile, the increase in prices of chicken meat was due to, among others, rising cost of chicken feed.

The CPI full report for March 2022 is available from DEPS' website.

Source:
RTB NEWS

by RTB NEWS

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