- 0.34% monthly increase on CPI of August 2024.
- 1.15% annual increase on CPI of August 2024, compared with August 2023.
The National Planning Council has released the Consumer Price Index (CPI) for the month of August 2024. The CPI of August 2024 reached 107.47 points showing an increase of 0.34% when compared to CPI of July 2024. Compared to CPI of August 2023, [Y-o-Y] basis, an increase of 1.15% has been recorded in the general index (CPI) of this month.
When comparing the main components of CPI for the month of August 2024, with the previous month July 2024 (Monthly change), it is found that, there were five groups increased, four groups decreased, and three groups remained unchanged.
The groups showed increased as follows: “Communication" by 9.23%, “Food and Beverages" by 1.29%, “Miscellaneous Goods and Services" by 0.77%, “Transport" by 0.28% and “Restaurants and Hotels" by 0.27%. A decrease has been recorded in “Clothing and Footwear" by 1.59%, “Recreation and Culture" by 1.24%, “Housing, Water, Electricity and other Fuel" by 0.72%, “Furniture and Household Equipment" by 0.14%. “Tobacco", “Health", and “Education" remained flat at the last month's price level.
A comparison of the CPI, August 2024 with the CPI, August 2023 (Annual Change), an increase has been recorded in the general index (CPI) by 1.15%. This [Y-o-Y] price increase is primary due to the prices rising in six groups namely: “Recreation and Culture" by 10.65%, “Miscellaneous Goods and Services" 5.30%, Communication" by 3.51%, “Restaurants and Hotels" by 2.54, “Education" by 1.77%, and “Transport" by 1.02%.
A decrease has been shown in price levels in “Housing, Water, Electricity and other Fuel' by 3.74%, “Health" by 1.63%, “Furniture and Household Equipment" by 1.58%, “Clothing and Footwear" by 1.22%, “Food and Beverages" by 0.88%. No changes recorded on “Tobacco".
The CPI of August 2024 excluding “Housing, Water, Electricity and other Fuel" group stands at 111.52 points, recorded an increase of 0.58% when compared to the index of July 2024. Compared with its counterpart in 2023, the CPI of August index increased by 2.31%.
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