Tunisia’s CPI inflation cools to seven-month low of 5.2% y/y in November

By bne IntelliNews December 5, 2014

Slowing food and clothing price growth, coupled with falling telecoms costs, offset rising housing and restaurants prices, helping reduce Tunisia’s CPI inflation to seven-month low of 5.2% y/y in November from 5.4% y/y a month earlier, the statistics office INS said on December 5.

The strong harvest season will likely keep food prices anchored by end-2014 and the first quarter of next year, thus, accommodating the central bank cautious monetary stance by leaving the benchmark interest rate unchanged at 4.75%.

In monthly terms, the CPI grew 0.4% in November, easing from a 0.6% m/m rise the previous month. In January-November, Tunisia’s CPI inflation rose 5.5% y/y, remaining the highest in North Africa excluding Egypt.

Food and beverages prices (33% of the basket) rose just 0.4% m/m in November, reducing the annual growth to 5.0% from 5.5% in October.

Meat costs grew 3.8% y/y (up 5.6% y/y in October) and those of edible oils rose 7.1% y/y (up 5.7% y/y in October). Vegetable costs rose 3.1% y/y while those of fish grew 8.1% y/y. Prices of dried fruits increased 11.4% y/y in November.

Housing and utilities prices (14% of the basket) edged up 0.2% m/m in November, keeping the annual increase at 6.4%, the same as the month before. Electricity, gas and fuel costs rose 10.1% y/y while those of water rose 7.5%, the same as the month before. Rent charges grew 4.6% y/y in November, easing from 4.7% y/y a month earlier.

Clothing and footwear prices rose 1.9% m/m in November, cutting the annual growth to 6.5% y/y from 7.1% y/y a month earlier.

On the other hand, transport charges (11.3% of the index) ticked up 0.1% m/m keeping the annual growth unchanged at 3.3% y/y, the same as in October. Restaurant and hotel charges climbed 10.8% y/y in November on strong local demand amid weak seasonal activity.

  Nov-13 (y/y) Nov-14 (m/m) Oct-14 (y/y) Nov-14 (y/y)
CPI  5,8% 0,4% 5,4% 5,2%
Food/beverages 7,8% 0,4% 5,5% 5,0%
Tobacco 0,0% 0,0% 12,0% 12,0%
Clothing/Footwear 7,2% 1,9% 7,1% 6,5%
Housing/utilities 5,1% 0,2% 6,4% 6,4%
Furniture/equipments 5,8% 0,6% 4,8% 5,1%
Health 2,0% 0,0% 2,1% 2,0%
Transport 5,4% 0,1% 3,3% 3,3%
Communications 0,1% 0,0% -2,3% -2,4%
Recreation/culture 2,9% -0,2% 3,9% 3,1%
Education 2,3% 0,0% 3,1% 3,1%
Rest/Hotels 6,3% 1,0% 10,4% 10,8%
Other serivces 4,5% 0,3% 5,8% 4,5%
         
Source: INS        

Related Articles

Iran, Syria sign raft of memoranda and deals

Following the purge of foreign-backed rebels in the devastated Syrian city of Aleppo by Iranian, Lebanese and Russian forces, Damascus’s prime minister Imad Khamis was in Tehran to sign five ... more

Egypt could return to emergency rule amidst deadly bomb explosions

A spate of explosions in Egypt over the long weekend marking the birthday of Prophet Mohamed culminated in the detonation of a bomb at a church attached to the Coptic Christian Cathedral that ... more

Egypt’s inflation spikes post November currency floatation, rate hike expected

Egypt’s annual inflation rate spiked in November to hit its highest levels since July 2008, reflecting the effects of the general rise in price levels of goods since the Egyptian pound’s ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss