The Consumer Price Index, CPI in August 2021 increased by 1.9 per cent year-on-year compared to August 2020. Prices of Food and Non-Alcoholic Beverages increased by 2.1 per cent. Meanwhile, Non-Food prices increased by 1.9 per cent. The Department Of Economic Planning And Statistics, Ministry Of Finance And Economy in its media release stated that on a month-on-month basis, the CPI in August 2021 increased by 0.2 per cent compared to July 2021. The Food and Non-Alcoholic Beverages Index and the Non-Food Index both increased by 0.2 per cent.
The CPI increase was largely attributed to increases in the prices and costs of Transport; Food and Non-Alcoholic Beverages; and Restaurants and Hotels. However, this was moderated by the decrease in prices and costs of Furnishings, Household Equipment and Routine Household Maintenance; Housing, Water, Electricity, Gas and Other Fuels; and Recreation and Culture.
The increase in prices of Transport was largely attributed to the rise in prices of motor cars followed by air tickets in light of limited number of scheduled flights. The rising costs of Restaurants and Hotels were driven by the increase in prices in selected menus for contract catering as well as in restaurants and cafes. The price increase in selected menus was in line with the increase in prices of raw products.
The increase in prices of Food and Non-Alcoholic Beverages was due to the hike in food prices such as beef and buffalo meat; chicken; cooking oil; and vegetables. The increase in the prices of beef and buffalo meat was, among others, due to increase in import costs, particularly transportation services. As for the chicken meat, the increase in prices was, among others, due to the increase in the cost of chicken feed. Meanwhile, the increase in cooking oil prices, among others, was in line with the increase in input prices such as palm oil.
The CPI full report for August 2021 is available from DEPS’ website at www.deps.gov.bn.
Source: Radio Television Brunei