- 0.22% Monthly increase on CPI of May 2023.
- 2.61% annual increase on CPI of May 2023, compared with May 2022.
The Planning and Statistics Authority (PSA) has released the Consumer Price Index (CPI) for the month of May 2023. The CPI of May 2023 reached to 105.82 points showing an increase of 0.22% when compared to CPI of April 2023. Compared to CPI of May 2022, [Y-o-Y basis, an increase of 2.61% has been recorded in the general index (CPI) of this month.
When comparing the main components of CPI for the month of May 2023, with the previous month April 2023 (Monthly change), it is found that, there was an increase in six groups, while two groups decreased, and four groups remained unchanged.
The groups showed increase as a follow: “Recreation and Culture” by 1.40%, followed by “Restaurants and Hotels” by 0.53% “Transport” by 0.51%, “Furniture and Household Equipment” by 0.37%, “Miscellaneous Goods and Services” by 0.12%, and “Food and Beverages” by 0.10%.
A decrease has been recorded in “Clothing and Footwear” by 0.51%, and “Housing, Water, Electricity and other Fuel” by 0.46%. “Tobacco”, “Health”, “Communication”, and “Education” remained flat at the last month’s price level.
A comparison of the CPI, May 2023 with the CPI, May 2022 (Annual Change), an increase has been recorded in the general index (CPI), by 2.61%. This [Y-o-Y] price increase primary due to the prices rising in eight groups namely: “Recreation and Culture” by 9.00%, followed by “Housing, Water, Electricity and other Fuel” by 6.70%, “Education” by 4.06%, “Furniture and Household Equipment” by 2.27%, “Clothing and Footwear” by 1.86%, “Health” by 1.41%, “Transport” by 1.12%, and “Restaurants and Hotels” by 0.12%.
A decrease has been shown in price levels in “Communication” by 4.04%, “Food and “Beverages” by 1.49%, and “Miscellaneous Goods and Services” by 0.75%. No changes recorded on “Tobacco”.
The CPI of May 2023 excluding “Housing, Water, Electricity and other Fuel” group stands at 107.88 points recorded an increase by 0.38% when compared to the index of April 2023. Compared with counterpart in 2022, the CPI of May index increased by 1.67%.
