Tunisia's CPI inflation ticked down to 6.2% y/y in July 2013 from 6.4% the month before on lower food price growth that offset rising housing and transport charges, the state stats office INS said. In January-July, CPI inflation averaged 6.3% y/y.
Tunisia’s CPI will quicken to 6.0% in 2013 from 5.6% a year earlier, the IMF said in its latest World Economic Outlook published in April.
In monthly terms, CPI inflation rose to 0.4% m/m from 0.3% in June. Food and beverage prices (33% of the basket) inched up 0.5% m/m in July, reducing the annual growth to a still-high 7.2% y/y from 7.9% the month before.
Housing prices increased 0.8% m/m in July, lifting the annual component’s growth to 6.1% y/y from 5.5% a month earlier. Transport charges (11.3% of the index) were unchanged in monthly terms as the market seems to have absorbed the recent 10.3% hike of fuel prices. The annual growth, thus, edged down to 7.3% y/y from 7.4% in June.
Clothing and footwear prices grew 7.0% y/y in July and restaurants prices increased 7.0% supported by both local and tourism demand.
Tunisia’s CPI remains at a nearly three-year high boosted mainly by volatile food prices. Rising transport prices as the government recently upped fuel costs by an average of 10% to help ease the budget burden is also fuelling inflationary pressures.
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