Jordan’s CPI deflation widens to 1.7% y/y in March

By bne IntelliNews April 12, 2016

Falling transport, utilities, meat and fresh produce prices widened Jordan’s CPI deflation to 1.7% y/y in March from 0.8% y/y the preceding month, the statistics office said.

In Q1, Jordan’s CPI deflation averaged 1.2% y/y boding well with the central bank’s aggressive monetary easing to spur borrowing and economic growth. In 2016, Jordan’s CPI should rise a mere 0.2% y/y, according to the IMF, reversing a 0.9% deflation a year earlier.

In monthly terms, Jordan’s CPI edged down a marginal 0.02% in March, narrowing from a 1.1% annual decline in February, mainly on fuel costs coupled with favourable seasonal factors that cut fruits and dairy products costs.

Meat and poultry charges dropped 7.1% y/y in March while those of fresh vegetables declined 7.6% y/y. Transport prices shrank 8.5% y/y in March widening from a 3.3% y/y contraction a month earlier as the government has cut fuel prices amid falling crude oil prices. Utilities charges fell 8.3% y/y during the month. Rent charges, however, rose 3.2% y/y, the same as in February, amid rising local demand.

In Q1, transport prices fell 6% y/y and those of utilities dropped 8.5% y/y.

Related Articles

UAE investor to develop $500mn agri-food group in Romania

The Al Dahra Group of the United Arab Emirates (UAE) wants to purchase nearly 60,000 hectares of agricultural land along the Danube River, develop a logistics company including water and road ... more

UAE to buy major stakes in Kazakh special economic zones

The United Arab Emirates’ (UAE’s) global port operator Dubai Ports World on March 24 signed two framework agreements to acquire stakes in Kazakhstan’s two Special Economic ... more

Survival of Iran nuclear deal appears far less likely under US Secretary of State Mike Pompeo

The odds on the Trump administration attempting to kill the Iran nuclear deal substantially shortened on March 13 with the firing-by-tweet of US Secretary of State Rex Tillerson and his replacement ... more

Dismiss