Unfavourable seasonal factors coupled with higher private consumption and local demand for food, clothing and entertainment during the holy month of Ramadan, lifted Tunisia’s CPI inflation to a six-month high of 3.9% y/y in June from 3.6% y/y the preceding month, the statistics office INS said.
In January-June, the CPI index rose 3.5% y/y, remaining well anchored and in single digits, thus within the c-bank’s comfort zone. The central bank is sustaining its wait-and-see monetary stance by holding the benchmark rate unchanged at 4.25%, seeking to spur GDP growth amid still anchored inflation.
In monthly terms, the CPI increased 0.4% in June, easing from 0.6% m/m in May.
Food and beverages prices rose 0.3% m/m in June, fuelling the annual growth to a seven-month high of 3.7% from 2.9% y/y in May.
Fresh vegetables prices climbed 12.2% y/y in June and those of poultry grew 4.6% y/y. Prices of edible oils also increased 7.7% y/y in June.
Housing and utilities prices (14% of the basket) rose 1.5% m/m in June, lifting the annual increase to a seven-month high of 5.6% from 4.8% in May.
Rents charges climbed 7.3% y/y during the month on strong local demand. Those of potable water climbed 13.4% y/y in June.
Transport prices rose 1.2% y/y, the same as in May, while those of clothing and footwear rose 7% y/y amid strong local demand during Ramadan.
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