Tunisia’s CPI inflation edges up to 3.4% y/y in April

By bne IntelliNews May 8, 2016

Higher food price growth fuelled Tunisia’s CPI inflation to a still anchored 3.4% y/y in April from 3.3% y/y the preceding month, the statistics office INS said.

The print accommodates the c-bank monetary stance by leaving the key rate on hold at 4.25% at its latest MPC sitting held on April 28, seeking to reignite the tumbling GDP growth.

In January-April 2016, the CPI index grew 3.4% y/y, remaining well in single digits and the c-bank comfort zone.

In monthly terms, the CPI increased 0.7% in April compared with zero m/m growth in March.

Food and beverages prices rose 0.3% m/m in April, lifting the annual growth to a still anchored 1.8% from 1.3% y/y in March. Fresh fruits increased 2.3% m/m and 11.9% y/y in April. Those of fresh vegetables rose 1.4% m/m and 2.7% y/y. Tobacco and alcoholic costs fell 0.5% y/y in April.

Housing and utilities prices (14% of the basket) rose 0.5% m/m in April, but the annual growth cooled to 4.6% from 4.9% y/y in March. Rents charges climbed 7.0% y/y during the month on strong local demand.

Transport prices rose 1.5% y/y, the same as in March as oil prices kept sinking and the government liberalised the fuel market.

  Apr-15 March-16 Apr-16
CPI (y/y) 5,7% 3,3% 3,4%
Food/beverages 7,2% 1,3% 1,8%
Tobacco 9,9% -0,3% -0,5%
Clothing/Footwear 7,5% 8,6% 8,1%
Housing/utilities 5,4% 4,9% 4,6%
Furniture/equipments 5,5% 5,2% 5,3%
Health 4,0% 2,3% 2,3%
Transport 2,9% 1,5% 1,5%
Communications -2,9% -1,6% -1,4%
Recreation/culture 3,0% 2,4% 1,9%
Education 4,6% 9,9% 10,2%
Rest/Hotels 10,9% 5,3% 4,8%
Other serivces 6,6% 6,1% 6,2%
Source: INS      
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