The Planning and Statistics Authority (PSA) has released the Consumer Price Index (CPI) for the month of February 2020. The CPI of February 2020 reached to 98.42 point showing a slightly increase ( almost stable) of 0.04%, when compared to CPI of January 2020. Compared to CPI of February 2019, [Y-o-Y basis], a decrease of 0.47% has been recorded in the general index (CPI) of this month.
This release of CPI, is the second issuance using the new base of 2018, calculated from the results of the household income and Expenditure survey 2017/2018. Classification of Individual Consumption According to Purpose (CIOCOP) has been used, which divided the prices basket to twelve main groups, started with “Food and Nonalcoholic beverages” group, and to end up with “Miscellaneous goods and Services” group. 737 commodities and services have been covered all the groups.
Looking at the relative importance of the base year 2018, it has been found, that the pattern of households did not change much during the previous five years, and that the relative importance between 2013 and 2018 was almost equal during the period, and no major change was observed on them, the groups of “Food and Beverages”, “Housing, Water, Electricity and other Fuel”, “Transport”, and “Recreation and Culture” are of the greatest importance to consumer families.
1.Monthly change ( February 2020 to January 2020):
An analysis [on M-o-M basis] of CPI for February 2020 compared with CPI, January 2020, shows that there are six main groups, where respective indices in this month have increased, namely: “Transport” by 2.26%, “Food and Beverages” by 0.51%. “Clothing and Footwear” by 0.43%, “Education and “Miscellaneous Goods and Services” by 0.24% each. “Furniture and Household Equipment” by 0..05%. A decreased has been recorded in “Recreation and Culture” by 3.54%, “Housing, Water, Electricity and other Fuel” by 0.16%, and “Restaurants and Hotels” by 0.13%. “Tobacco”, “Health” and “Communication” groups had remained flat at the last month’s price level. Table (2) show the monthly and annual Comparison for CPI February 2020, and Graphs (2),(3) show the movement of monthly CPIs of “Food and Beverages” and “Housing, Water, Electricity and Gas” from February 2019 to February 2020.
2.Annual change( February 2020 to February 2019):
A comparison of the CPI, February 2020 with the CPI, February 2019 (Annual Change), a decrease has been recorded in the general index (CPI), by 0.47%. This [Y-o-Y] price decrease primary due to the prices decline seen in the five groups namely: “Recreation and Culture” by 6.80%, “Housing, Water, Electricity and other Fuel” by 3.84%, “Communication” by 2.44%, “Clothing and Footwear” by 1.72%, and “Furniture and Household Equipment” by 0.44%. An increase has been shown in price levels in six groups namely: “Transport” by 4.83%, “Restaurants and Hotels” by 4.82%, “Health” by 3.07%, “Miscellaneous Goods and Services” by 1.77%, “Education” by 1.18%, “Food and Beverages” by 1.00%. No changes recorded in “Tobacco” group.
The CPI of February, 2020 excluding “Housing, Water, Electricity and other Fuel” group stands at 99.46 points showing an increase of 0.09% when compared to the index of January 2020, and an increase of 0.52% when compared to the CPI of February 2019.
