- 0.16% Monthly increase on CPI of November 2023.
- 1.29% annual increase on CPI of November 2023, compared with November 2022.
The Planning and Statistics Authority (PSA) has released the Consumer Price Index (CPI) for the month of November 2023. The CPI of November 2023 reached 108.26 points showing an increase of 0.16% when compared to CPI of October 2023. Compared to CPI of November 2022, [Y-o-Y basis, an increase of 1.29% has been recorded in the general index (CPI) of this month.
When comparing the main components of CPI for the month of November 2023, with the previous month October 2023 (Monthly change), it is found that, there was an increase in five groups, four groups decreased, and three groups remained unchanged.
The groups showed increase as a follow: “Recreation and Culture” by 2.49%, “Miscellaneous Goods and Services” by 0.79%, “Furniture and Household Equipment” by 0.32%, and slightly increase in “Restaurants and Hotels” and “Education” by 0.07%, 0.01% respectively.
A decrease has been recorded in “Transport” by 1.45%, followed by “Communication” by 0.21%, “Clothing and Footwear” by 0.18%, and “Food and Beverages” by 0.15%. “Tobacco”, “Housing, Water, Electricity and other Fuel”, and “Health” remained flat at the last month’s price level. Table (1) shows the monthly and annual Comparison for CPI November 2023.
A comparison of the CPI, November 2023 with the CPI, November 2022 (Annual Change), an increase has been recorded in the general index (CPI), 1.29%. This [Y-o-Y] price increase primary due to the prices rising in five groups namely: “Food and Beverages” by 3.82%, “Communication” by 14.27%, “Recreation and Culture” by 9.40%, “Education” by 6.73%, “Miscellaneous Goods and Services” by 1.28%, and “Furniture and Household Equipment” by 0.61%. A decrease has been shown in price levels in “Restaurants and Hotels” by 9.15%, followed by “Clothing and Footwear” by 4.66%, “Housing, Water, Electricity and other Fuel” by 2.86%, “Transport” by 0.96%, and slight decrease in “Health” by 0.06%. No changes recorded on “Tobacco”.
The CPI of November 2023 excluding “Housing, Water, Electricity and other Fuel” group stands at 111.71 point, recorded an increase by 0.19% when compared to the index of October 2023. Compared with its counterpart in 2022, the CPI of November index increased by 2.29%.
