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.
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