Consumer Prices Rose in the First Month of 2017

According to the Central Administration of Statistics (CAS), the Consumer Price Index (CPI) showed signs of inflation in the first month of the year. The CPI rose from 94.45 points in January 2016 to 98.47 points by the end of January 2017, recording a 4.25% year-on-year (y-o-y) increase. This rise is mostly attributed to the recovering oil quotes this year.  In terms of the CPI’s components, “transportation” (13.10% of CPI) and “water, electricity, gas & other fuels” (11.8% of CPI), saw annual growth rates of 6.88% and 15.68%, respectively. Moreover, the “education” sub-index, constituting 6.60% of the CPI, increased annually by 2.74% in January 2017. Prices of “communication” (4.5% of CPI) and “Clothing and Footwear” (5.2% of CPI), posted respective y-o-y rises of 0.70% and 14.29% over the same period. In addition, “restaurant & hotels” (2.8% of CPI) prices went up by 1.64% y-o-y, which might be due to an improving tourist activity during the first month of the year.

Nonetheless, “food and non-alcoholic beverages” prices (20% of CPI) as well as the “Health” (7.7% of CPI) sub-index registered respective drops of 0.28% and 1.06% y-o-y in January 2017.

Yearly Changes in the CPI

Consumer Prices Rose in the First Month of 2017

 

Source: CAS

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