- 1.08% Monthly increase on CPI of October 2023.
- 2.52% annual increase on CPI of October 2023, compared with October 2022.
The Planning and Statistics Authority (PSA) has released the Consumer Price Index (CPI) for the month of October 2023. The CPI of October 2023 reached 108.09 points showing an increase of 1.08% when compared to CPI of September 2023. Compared to CPI of October 2022, [Y-o-Y basis, an increase of 2.52% has been recorded in the general index (CPI) of this month.
When comparing the main components of CPI for the month of October 2023, with the previous month September 2023 (Monthly change), it is found that, there was an increase in six groups, four groups decreased, and two groups remained unchanged.
The groups showed increase as a follow: “Recreation and Culture” by 10.27%, “Restaurants and Hotels” by 2.83%, “Food and Beverages” by 0.25%, “Communication” by 0.18%, “Miscellaneous Goods and Services” by 0.16%, and slight increase in “Health” by 0.08%. A decrease has been recorded in “Furniture and Household Equipment” by 2.08%, followed by “Clothing and Footwear” by 0.84%, “Transport” by 0.67%, “Housing, Water, Electricity and other Fuel” by 0.59%. “Tobacco”, and “Education” remained flat at the last month’s price level.
A comparison of the CPI, October 2023 with the CPI, October 2022 (Annual Change), an increase has been recorded in the general index (CPI), by 2.52%. This [Y-o-Y] price increase primary due to the prices rising in six groups namely: “Communication” by 14.50%, “Recreation and Culture” by 11.18%, “Education” by 6.72%, “Food and Beverages” by 3.86%, “Transport” by 1.22%, “Miscellaneous Goods and Services” by 1.21%. A decrease has been shown in price levels in “Housing, Water, Electricity and other Fuel” by 2.41%, “Restaurants and Hotels” by 2.35%, “Clothing and Footwear” by 1.35%, “Furniture and Household Equipment” by 0.22%, and slight decrease in “Health” by 0.06%. No changes recorded on “Tobacco”.
The CPI of October 2023 excluding “Housing, Water, Electricity and other Fuel” group stands at 111.50 point, recorded an increase by 1.48% when compared to the index of September 2023. Compared with its counterpart in 2022, the CPI of October index increased by 3.73%.
