Tunisia’s CPI inflation accelerates to 4.6% y/y in October

By bne IntelliNews November 5, 2015

Soaring tobacco and clothing costs lifted Tunisia’s CPI inflation to a five-month high of 4.6% y/y in October from 4.2% y/y a month earlier despite slower food price growth, the statistics office INS said.

The print, albeit potentially a one-off hike, contradicts the central bank’s recent decision to reduce the benchmark interest rate by 50bp to 4.25%, seeking to reignite the tumbling GDP growth amid slowing CPI inflation and contracting industrial output.

In monthly terms, the CPI rose 1.0% in October, spiking from a 0.3% m/m increase the month before.

Excluding tobacco and clothing costs, the CPI inflation reached 4.3% y/y in October.

Food prices grew 0.6% m/m in October, trimming the annual expansion to 3.4% from 4.0% y/y in September.

Fresh vegetables grew 3.9% m/m during the month and those of fresh fruits rose 1.8% m/m. Fish costs, however, fell 0.7% m/m in October and those of poultry dropped 1.7%.

Housing and utilities prices (14% of the basket) ticked up just 0.1% m/m, cutting the annual rise to 5.4% from 5.5% y/y in September. Rents charges climbed 7.6% y/y in October while those of utilities edged up 0.2% on falling energy costs. Tobacco charges jumped 13.6% m/m and 14.1% y/y in October while those of alcohol grew 5.9% y/y. Education costs also rose 7.9% y/y ahead of the new academic year.

Transport prices edged flattened m/m during the month but rose 1.7% y/y.

    Oct-14 Aug-15 Sept-15 Oct-15
CPI (y/y)   5,4% 4,2% 4,2% 4,6%
Food/beverages   5,5% 3,7% 4,0% 3,4%
Tobacco   12,0% 0,3% 0,4% 14,1%
Clothing/Footwear   7,1% 6,4% 6,7% 7,3%
Housing/utilities   6,4% 5,8% 5,5% 5,4%
Furniture/equipments   4,8% 5,7% 5,9% 6,0%
Health   2,1% 3,4% 3,0% 3,1%
Transport   3,3% 1,5% 1,6% 1,7%
Communications   -2,3% -2,5% -2,4% -2,7%
Recreation/culture   3,9% 3,4% 3,1% 2,9%
Education   3,1% 4,8% 6,4% 7,9%
Rest/Hotels   10,4% 9,4% 8,5% 8,4%
Other serivces   5,8% 6,5% 6,6% 6,6%
Source: INS          

Related Articles

Trump warns US pullout from "horrible" Iran nuclear deal might still be ahead

US President Donald Trump on October 16 warned that the termination of the Iran nuclear deal is still a clear possibility even though he ... more

Pentagon chief suggests staying in Iran nuclear deal is in US interests

US Defence Secretary Jim Mattis on October 3 told the Senate Armed Services Committee that it currently appears to be in the strategic interest of Washington to remain in the Iran nuclear deal. ... more

Iran will in six years accept stricter nuclear inspections if US behaves, says foreign minister

Iran’s foreign minister has said the country is willing to formally accept a tougher nuclear inspection regime in six years. However, Mohammad Javad Zarif continued to rule out any renegotiation of ... more