- 1.59% Monthly increase on CPI of December 2023.
- 1.65% annual increase on CPI of December 2023, compared with December 2022.
The Planning and Statistics Authority (PSA) has released the Consumer Price Index (CPI) for the month of December 2023. The CPI of December 2023 reached 109.98 points showing an increase of 1.59% when compared to CPI of November 2023. Compared to CPI of December 2022, [Y-o-Y basis, an increase of 1.65% has been recorded in the general index (CPI) of this month.
When comparing the main components of CPI for the month of December 2023, with the previous month November 2023 (Monthly change), it is found that, there was an increase in six groups, two groups decreased, and four groups remained unchanged.
The groups showed increase as a follow: “Recreation and Culture” by 9.74%, “Food and Beverages” by 1.14%, “Transport” by 0.75%, “Miscellaneous Goods and Services” by 0.22%, both of “Clothing and Footwear”, and “Furniture and Household Equipment” increased by 0.04%, which are almost stable.
A decrease has been recorded in “Education” by 0.26%, and in “Housing, Water, Electricity and other Fuel” by 0.08%. “Tobacco”, “Health”, Communication”, and “Restaurants and Hotels” remained flat at the last month’s price level.
A comparison of the CPI, December 2023 with the CPI, December 2022 (Annual Change), an increase has been recorded in the general index (CPI) by 1.65%. This [Y-o-Y] price increase primary due to the prices rising in six groups namely: Communication” by 16.63%, “Recreation and Culture” by 11.85%, “Education” by 6.45%, “Food and Beverages” by 4.55%, “Miscellaneous Goods and Services” by 0.98%, and “Furniture and Household Equipment” by 0.54%. A decrease has been shown in price levels in “Restaurants and Hotels” by 10.79%, followed by “Clothing and Footwear” by 4.22%, “Housing, Water, Electricity and other Fuel” by 2.94%, “Transport” by 1.42%, and slight decrease in “Health” by 0.06%. No changes recorded on “Tobacco”.
The CPI of December 2023 excluding “Housing, Water, Electricity and other Fuel” group stands at 113.92 points, recorded an increase by 1.98% when compared to the index of November 2023. Compared with its counterpart in 2022, the CPI of December index increased by 2.74%.
