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.

Read in IntelliNews Pro
Get IntelliNews Pro

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

Most Read

  1. Europe pushes back against US sanctions on Russia
    2 days ago
  2. Romanian developers get in the game
    7 days ago
  3. Putin and Trump trying to walk back Syria strike and sanctions tensions
    7 days ago
  4. What’s the cost of US sanctions on Russia?
    8 days ago
  5. Is Armenia facing a colour revolution? Popular protests on the rise in Emerging Europe
    2 days ago
  1. Fears raised of US conditioning F-35s sale on Turkey cancelling S-400 deal with Russia
    28 days ago
  2. Europe pushes back against US sanctions on Russia
    2 days ago
  3. Romanian developers get in the game
    7 days ago
  4. COMMENT: Whisper it – ‘Erdonomics’ could be driving Turkey to a meltdown
    16 days ago
  5. Putin and Trump trying to walk back Syria strike and sanctions tensions
    7 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss