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Consumer Index - June 2018


Consumer Index - June 2018

COMMENTARY

Section 1: Headline Inflation

The annual inflation rate in June 2018 was 3.1 percent, registering a drop of 0.2 of a percentage point on the May 2018 rate of 3.3 percent. The inflation rates for regions between May 2018 and June 2018 showed that Urban Villages’ declined to 2.7 percent from 3.0 percent, Rural Villages went down to 2.3 percent from 2.5 percent and Cities & Towns also reduced to 4.0 percent from 4.1 percent between the two months.

The June national Consumer Price Index was 106.1 in June 2018 the same rate as in May 2018. The Cities & Towns’ index realized a rise of 0.1 percent, advancing from 106.7 to 106.8. The Rural Villages index’ dropped by 0.1 percent, moving from 105.5 in May 2018 to 105.4 in June 2018, while Urban Villages’ index remained unchanged at 105.7 between the two periods.

Two group indices recorded changes of more than 1.0 percent between May and June, namely Communication (-9.2 percent) and Transport (1.5 percent).

The Communication index group moved from 101.4 to 92.0, registering a drop of 9.2 percent between May and June. This was due to a decline in the constituent section index of Telephone &Telefax Services, which went down by 11.7 percent. The decrease in Telephone &Telefax Services section index was attributed to the revised prepaid voice call tariffs by mobile service providers which effected on the 1st June 2018.

The Transport index group registered an increase of 1.5 percent, from 107.4 in May to 109.0 in June. This was mainly attributable to an increase in the constituent section index of Operation of Personal Transport, which went up by 2.7 percent. The increase in Operation of Personal Transport section index was attributed to the rise in retail pump prices for petrol by P0.23 and diesel by P0.45 per litre, which effected on the16th May 2018

The All-Tradable index advanced from 104.8 in May to 105.3 in June, recording a rise of 0.5 percent. The Imported Tradable index moved from 105.3 in May to 106.2 in June, recording an increase of 0.8 percent. The Non-Tradable index advanced from 108.4 in May to107.5 in June, registering a drop of 0.8 percent, while the Domestic Tradable index went down by 0.1 percent between May and June.

All-Tradable inflation rate was 2.4 percent in June, recording a rise of 0.4 of a percentage point on the May 2018 rate of 2.0 percent. The Non-Tradable inflation rate went down from 5.7 percent in May to 4.4 percent in June. The Imported Tradable inflation rate went up from 3.0 percent in May to 3.6 percent in June, whereas the Domestic Tradable inflation rate remained unchanged at (0.2) percent between the two months.

Section 2: Core Inflation

The Trimmed Mean Core Inflation rate in June 2018 was 3.2 percent, an increase of 0.2 of a percentage point on the May 2018 rate of 3.0 percent. Meanwhile the Core Inflation rate by exclusion remained at 1.8 percent between May and June.

 


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