Jordan's CPI inflation retreated to 5.8% y/y in June from 7.1% the month before, state news agency Petra reported on July 10, citing a statement from the stats office DoS. The latter has not published yet an official breakdown by sector. Higher fresh produce, transport and utilities prices remained the main growth engine of CPI in Jordan. Food prices account for 36.6% of the inflation basket.
In monthly terms, the CPI reportedly rose 0.8% m/m compared with a 0.9% contraction in May. Jordan’s CPI inflation will likely accelerate in July and August due to the fasting month of Ramadan, which started on Wednesday July 10, when local demand for food, clothing and entertainment usually peaks.
In Jan-June, CPI inflation averaged 6.5% y/y. Transport prices climbed 15.8% in H1 as the government liberalised fuel costs that are now adjusted on a monthly basis for crude oil price variations. Fresh vegetable charges rose 14.2% in January-June while utilities costs jumped 24.5%. Rent prices rose 3.0% in H1.
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