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.
Lebanon has become the fifth member country from the Southern and Eastern Mediterranean (SEMED) region to join the European Bank for Reconstruction and Development (EBRD), becoming a shareholder with ... more
Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more
Passengers boarding an early morning July 5 Turkish Airlines (THY) flight to John F Kennedy International Airport in New York were allowed to include laptops and electronic devices larger than a ... more