Lower tobacco prices, following a one-off hike two months earlier, and slower food and housing price growth, cut Tunisia’s CPI inflation to 4.1% y/y in December from 4.3% y/y a month earlier, the statistics office INS said. In 2015, Tunisia’s CPI inflation averaged a still high 4.9%.
The reading accommodates the c-bank monetary stance by leaving the key rate on hold at its latest MPC sitting following, seeking to reignite the tumbling GDP growth amid slowing CPI inflation and contracting industrial output.
Excluding energy costs, the CPI inflation reached 4.3% y/y in December while excluding food and energy charges, the CPI reached 4.8%.
In monthly terms, the CPI ticked up a marginal 0.2% in December.
Food and beverages prices fell 0.1% m/m in December trimming the annual growth to 3.3% from 3.4% y/y in November.
Fresh vegetables dropped 1.9% m/m in December on favourable seasonal factors and those of edible oils fell 0.9% m/m. Fruits prices rose 0.8% m/m in December.
Housing and utilities prices (14% of the basket) rose 0.5% m/m on higher rents (up 0.9% m/m). The annual growth, however, cooled to a still high 5.3% from 5.5% y/y in November.
Transport prices rose 1.7% y/y, the same as in November while those of education grew 8.5% y/y.
The odds on the Trump administration attempting to kill the Iran nuclear deal substantially shortened on March 13 with the firing-by-tweet of US Secretary of State Rex Tillerson and his replacement ... more
Algerian national energy company Sonatrach has struck a deal with Turkey's Ronesans and Bayegan to build a petrochemical plant worth $1bn in Turkey, Turkish President Recep Tayyip Erdogan said on ... more
Romanian civil engineering company Hidroconstructia has won a $115mn contract with Jordan’s Arab Potash Company, the world’s eighth largest potash producer. Hidroconstructia was founded in ... more