- 0.06% Monthly decrease on CPI of February 2023.
- 4.41% annual increase on CPI of February 2023, compared with February 2022.
The Planning and Statistics Authority (PSA) has released the Consumer Price Index (CPI) for the month of February 2023. The CPI of February 2023 reached to 105.34 points showing a decrease by 0.06% when compared to CPI of January 2023. Compared to CPI of February 2022, [Y-o-Y basis], an increase of 4.41% has been recorded in the general index (CPI) of this month.
When comparing the main components of CPI for the month of February 2023, with the previous month January 2023 (Monthly change), it is found that, there was a decrease in five groups, while three groups were increased, and four groups remained unchanged.
The groups showed decrease as a follow: “Restaurants and Hotels” by 2.12%, “Food and Beverages” by 1.45%, “Clothing and Footwear” by 0.80%, “Housing, Water, Electricity and other Fuel” by 0.62%, and “Miscellaneous Goods and Services” by 0.28%. An increase has been recorded in “Recreation and Culture” by 3.75%, followed by “Transport” by 0.24%, and “Furniture and Household Equipment” by 0.11%. “Tobacco”, “Health”, “Communication”, and “Education” had remained flat at the last month’s price level.
A comparison of the CPI, February 2023 with the CPI, February 2022 (Annual Change), an increase has been recorded in the general index (CPI), by 4.41%. This [Y-o-Y] price increase primary due to the prices rising in seven groups namely: “Recreation and Culture” by 20.80%, followed by “Housing, Water, Electricity and other Fuel” by 8.94%, “Restaurants and Hotels” by 4.45%, “Education” by 4.26%, “Transport” by 2.38%, “Health” by 1.62%, “Clothing and Footwear” by 0.71%.
A decrease has been shown in price levels in “Communication” by 4.84%, followed by “Food and “Beverages” by 1.29%, “Miscellaneous Goods and Services” by 0.23%, and “Furniture and Household Equipment” by 0.04%. No changes recorded on “Tobacco”.
The CPI of February 2023 excluding “Housing, Water, Electricity and other Fuel” group stands at 107.45 points recorded a decrease by 0.09% when compared to the index of January 2023. Compared with counterpart in 2022, the CPI of February index increased by 3.37%.
