Tunisia’s CPI inflation holds at 5.7% y/y in March

By bne IntelliNews April 5, 2015

Tunisia’s CPI inflation remained at a six-month high of 5.7% y/y in March, the same as month earlier, as rising food and beverage prices were partially mitigated by cooling housing and clothing charges, the statistics office INS said.

The reading remains within the central bank’s comfort zone despite being the highest in North Africa excluding Egypt. Spurring economic growth remains the government’s priority in the near term and thus one can understand the central bank’s cautious monetary stance by leaving the benchmark interest rate unchanged at 4.75%.

In monthly terms, the CPI, however, fell 0.1% in March, the same as in February. Unfavourable seasonal factors kept boosting food and beverages prices (33% of the basket) prices in March, marking a 8.0% y/y expansion. Vegetables rice climbed 28.9% y/y in March and those of fresh fruits increased 10.2% y/y. Edible oils prices grew 6.2% y/y in March.

Housing and utilities prices (14% of the basket) grew just 0.2% m/m in March, trimming the annual rise to 4.9% from 5.3% y/y in February. Rent prices grew 4.9% y/y and those of gas and electricity increased 4.3% y/y in March. Transport prices grew 0.1% m/m, keeping the annual increase at 3.5%, the same as in February.

  Mar-14 (y/y) Mar-15 (m/m) Feb-15 (y/y) Mar-15 (y/y)
CPI  5,0% -0,1% 5,7% 5,7%
Food/beverages 6,6% -0,1% 7,7% 8,0%
Tobacco 0,0% 0,0% 9,7% 9,7%
Clothing/Footwear 7,0% -1,9% 5,6% 5,1%
Housing/utilities 4,8% 0,2% 5,3% 4,9%
Furniture/equipments 5,3% 0,5% 5,2% 5,6%
Health 2,3% 0,2% 3,7% 3,9%
Transport 2,8% 0,1% 3,5% 3,5%
Communications 0,3% -0,1% -2,6% -2,8%
Recreation/culture 3,1% 0,1% 2,7% 2,8%
Education 2,2% 0,0% 4,7% 4,7%
Rest/Hotels 5,6% 0,5% 10,6% 11,0%
Other serivces 5,4% -0,1% 7,1% 6,6%
Source: INS        

Related Articles

Ankara and Tehran join wave of anger directed at Trump’s recognition of Jerusalem as Israel’s capital

US President Donald Trump's December 6 announcement that his administration has decided to unilaterally recognise Jerusalem as Israel's capital was described as “against international law” by ... more

Islamic State is finished declares Iran's President Rouhani

Iranian President Hassan Rouhani on November 21 declared the end of the so-called Islamic State militant and terrorist group following decisive battles in Iraq and Syria. Stating that he wished to ... more

Turkey the loser as Baghdad rewards Iran with control of Kurdish oil exports

Iran is taking control of oil exports from Iraqi Kurdistan's giant Kirkuk field with Baghdad authorising the move as a reward for the Iranians' help in quelling the Kurds' late September push for ... more