- 0.38% monthly decrease on CPI of July 2024.
- 0.22% annual increase on CPI of July 2024, compared with July 2023.
The National Planning Council has released the Consumer Price Index (CPI) for the month of July 2024. The CPI of July 2024 reached 107.11 points showing a decrease of 0.38% when compared to CPI of June 2024. Compared to CPI of July 2023, [Y-o-Y] basis, an increase of 0.22% has been recorded in the general index (CPI) of this month.
When comparing the main components of CPI for the month of July 2024, with the previous month June 2024 (Monthly change), it is found that, there were five groups increased, five groups decreased, and two groups remained unchanged.
The groups showed decreased as follows: “Recreation and Culture” by 1.77%, “Housing, Water, Electricity and other Fuel” by 1.42%, “Clothing and Footwear” by 1.41%, “Health” by 1.14%, and “Miscellaneous Goods and Services” by 0.19%. An increase has been recorded in “Food and Beverages” by 0.81%, followed by “Communication” by 0.63%, “Restaurants and Hotels” by 0.38%, “Transport” by 0.34%, and “Furniture and Household Equipment” by 0.26%. “Tobacco”, and “Education” remained flat at the last month’s price level.
A comparison of the CPI, July 2024 with the CPI, July 2023 (Annual Change), an increase has been recorded in the general index (CPI) by 0.22%. This [Y-o-Y] price increase is primary due to the prices rising in four groups namely: “Recreation and Culture” by 8.27%, “Miscellaneous Goods and Services” 4.36%, “Education” by 3.42%, “Restaurants and Hotels” by 2.14.
A decrease has been shown in price levels in “Communication” by 5.24%, “Housing, Water, Electricity and other Fuel’ by 3.80%, “Health” by 1.63%, “Furniture and Household Equipment” by 1.33%, “Transport” by 0.93%, “Food and Beverages” by 0.72%, and “Clothing and Footwear” by 0.62%, “No changes recorded on “Tobacco”.
The CPI of July 2024 excluding “Housing, Water, Electricity and other Fuel” group stands at 110.88 points, recorded a decrease of 0.14% when compared to the index of June 2024. Compared with its counterpart in 2023, the CPI of July index increased by 1.18%.
