The Consumer Price Index CPI for October 2021 increased by 1.8 percent year-on-year compared to October 2020. The Department of Economic Planning and Statistics, Ministry of Finance and Economy in a media release stated that prices for Food and Non-Alcoholic Beverages and Non-Food increased by 2.3 percent and 1.7 percent.
Based on information provided by the Department of Agriculture and Agrifood, Ministry of Primary Resources and Tourism, the increase is due to the hike in food prices such as chicken, vegetables and cooking oil. Meanwhile the increase in vegetable prices is due to rising freight charges and shipping costs to import these materials. The increase in prices of cooking oil was from increasing input prices such as palm oil.
The overall CPI increase was moderated by decreases in Furnishings, Household Equipment and Routine Household Maintenance at 0.3 percent; Housing, Water, Electricity, Gas and Other Fuels as well and Recreation and Culture recorded the same rate at 0.2 percent.
For the Non -Food component, the increase was contributed by three groups, namely Clothing and Footwear, 9.5 percent, Transport 5.0 percent and Restaurants and Hotels at 0.7 percent. The increase in the price of Clothing and Footwear is in line with the increase in prices of clothing materials for men and women such as cotton, polyester, silk and lace. Meanwhile, transportation increased following the increase in the price of motor vehicles and airline tickets. And a faster increase in the cost of catering services has led to a surge for Restaurants and Hotels. Meanwhile, the increase in Transport was largely attributed to the rise of prices in motor cars and air fares. Restaurants and Hotels activities gained momentum from increasing catering services costs.
On a month-on-month basis, the CPI in October 2021 increased by 0.1 percent compared to September 2021. The Food and Non-Alcoholic Beverages Index increased by 0.7 percent. Meanwhile, Non-Food Index decreased by 0.03 percent. The CPI full report for October 2021 is available from DEPS’ website at www.deps.gov.bn.
Source: Radio Television Brunei