Jordan’s CPI inflation slows to 5.5% y/y in July 2013

By bne IntelliNews August 13, 2013

Jordan's CPI inflation eased to 5.5% y/y in July 2013 from 5.8% the month before, the statistics office DoS said in a statement. Lower tobacco, cereals and edible oil prices helped curb the CPI inflation which remains fuelled mainly by rising transport and utilities costs.

Fresh vegetables prices climbed 12.9% y/y in July and those of meat and poultry increased 5.7% amid strong local demand during the fasting month of Ramadan which ended on August 8. Food prices account for 36.6% of the inflation basket. Utilities prices jumped 23.0% y/y in July as the government upped electricity costs. Rents rose 5.5% during the month. Tobacco charges fell 8.8% y/y and 8.8% m/m in July

In monthly terms, the CPI rose 0.5% m/m, down from 0.8% the month before.

In Jan-July, CPI inflation averaged 6.4% y/y. Transport prices climbed 14.7% over the period as the government liberalised fuel costs that are now adjusted on a monthly basis for crude oil price variations. Fresh vegetable charges rose 14.0% in January-July, while utilities costs jumped 24.2%. Rent prices rose 3.4%.

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