Jordan’s CPI inflation eases to 3.1% y/y in Feb 2014

By bne IntelliNews March 12, 2014

Jordan’s CPI inflation cooled to 3.1% y/y in February 2014 from 3.4% the month before on falling utilities, hygiene and entertainment costs that offset rising rents and tobacco charges, the statistic office DoS said. The reading continues to accommodate the central bank’s recent decision to cut key interest rates by 25bps to further boost economic growth and stimulate private sector credit expansion amid moderate inflation.

In monthly terms, Jordan’s CPI inflation ticked up 0.4% m/m, accelerating from a 0.1% rise in January.

Fresh vegetable prices jumped 9.7% y/y in February despite braking from a 21.6% expansion a month earlier. Rent costs rose 7.7% y/y, the same as in January, but fuel and electricity prices fell 0.7% y/y during the month. Clothing and footwear prices increased 6.5% y/y, cooling from 7.3% y/y growth in January.

Personal hygiene charges dropped 3.8% y/y and those of meat and poultry fell 0.2% in February.

In January-February, Jordan’s CPI inflation averaged 3.2% y/y lifted by higher rents (up 7.7% y/y), fresh vegetables (up 15.6%) and education (up 5.7%) costs.  

Related Articles

Lebanon becomes European Bank for Reconstruction and Development shareholder

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 closes $125mn cybersecurity-focused fund

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

US lifts laptop ban on Turkish Airlines flights as of July 5

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

Dismiss