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Consumer Index - March 2018


Consumer Index - March 2018

 COMMENTARY

Section 1: Headline Inflation

The annual inflation rate in March 2018 was 2.8 percent, registering a decrease of 0.4 of a percentage point on the February 2018 rate of 3.2 percent.

The inflation rates for regions between February 2018 and March 2018 showed that Rural Villages’ declined to 2.3 percent from 2.7 percent, Cities & Towns went down to 3.3 percent from 3.6 percent and Urban Villages’ also decreased to 2.6 percent from 2.9 percent between the two months.

The March national Consumer Price index moved from 104.4 in February 2018 to 104.6 in March 2018, an increase of 0.1 percent. The Cities & Towns’ index realized a rise of 0.2 percent, from 104.7 to 104.9. The Urban Villages’ index’ rose by 0.2 percent, advancing from 104.1 in February 2018 to 104.2 in March 2018, while Rural Villages index registered an increase of 0.1 percent, moving from 104.4 to 104.5 between the two periods. Group indices were generally moving at a stable pace between February 2018 and March 2018, recording changes of less than 1.0 percent. The Transport index group registered a decrease of 0.1 percent, from 105.0 in February to 104.9 in March. This was attributed to a drop in the constituent section index of Purchase of Vehicles, which went down by 0.5 percent. The Transport index group accounted for 20.65 percent of CPI basket weights which implied its significant impact in the CPI overall inflation. The Furnishing, House Hold Equipment & Routine Maintenance group index went up from 103.7 to 104.4, recording a rise of 0.6 percent between the two months.

The rise was due to the general increase in the section indices especially Goods & Services for Household Maintenance (1.2 percent). The Recreation & Culture index group moved from 102.9 to 103.4, registering an increase of 0.4 percent between February and March. The rise was owed to the general increase in some section indices particularly

Audio Visual, Photographic & Information Processing Equipment (0.6 percent). The Housing, Water, Electricity. Gas & Other Fuels index group advanced from 106.4 to 106.7, recording an increase of 0.3 percent between February and March. The increase was mainly attributable to the rise in section indices of Rent paid by Tenants and Materials for Maintenance & Repair of dwelling by 0.5 and 0.3 percent respectively.

The Miscellaneous Goods & Services index group moved 104.3 to 104.5, registering an increase of 0.3 percent between February and March. The rise was owed to the overall increase in section indices except for the Social Protection and Insurance section indices which remained unchanged. All-Tradable inflation rate was 2.2 percent in March, registering a decrease of 0.6 of a percentage point on the February 2018 rate of 2.8 percent. The Imported Tradable inflation rate went down from 3.8 percent in February to 3.1 percent in March. The Domestic Tradable inflation rate decreased 0.3 percent in February to 0.1 percent in March. Non-Tradable inflation rate remained unchanged at 4.0 percent during the period under review. The All-Tradable index moved from 104.4 in February to 104.5 in March, recording an increase of 0.1 percent. The Domestic Tradable index advanced from 103.0 in February to 103.2 in March, recording an increase of 0.2 percent. The Non-Tradable index moved from 104.5 in February to104.8 in March, registering an increase of 0.2 percent, while the Imported Tradable index rose by 0.1 percent between February and March.

 


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