Tunisia’s CPI inflation slows to 5.3% y/y in May

By bne IntelliNews June 4, 2015

Tunisia’s CPI inflation cooled to 5.3% y/y in May from a six-month high of 5.7% y/y the month before mainly on slower food and housing price growth and falling telecoms costs, the statistics office INS said.

The reading is good news for the central bank amid also easing core inflation and thus accommodating the c-bank’s cautious monetary stance by leaving the benchmark interest rate unchanged at 4.75% to boost sluggish GDP growth.

In monthly terms, the CPI grew 0.4%, easing from a 0.6% monthly rise in April.

Favourable seasonal factors kept food and beverages prices (33% of the basket) muted m/m in May, cutting the annual rise to 6.3% y/y from 7.2% y/y in April. The government also plans to import large quantities of wheat this year but lower commodity prices will keep the imports bill anchored. Poultry prices fell 1.6% m/m in May and those of eggs dropped 2.5%. Fresh vegetables costs also fell 0.3% m/m in May.

Housing and utilities prices (14% of the basket) grew 0.3% m/m in May on subdued oil prices, cutting the annual rise to 4.5% from 5.4% y/y in April.

Transport prices rose 0.3% m/m in May, lifting the annual rise to 3.1% from 2.9% y/y in April. Strong local demand boosted restaurant ad hotels prices by 11.5% y/y in May.

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

Related Articles

UAE to buy major stakes in Kazakh special economic zones

The United Arab Emirates’ (UAE’s) global port operator Dubai Ports World on March 24 signed two framework agreements to acquire stakes in Kazakhstan’s two Special Economic ... more

Survival of Iran nuclear deal appears far less likely under US Secretary of State Mike Pompeo

The odds on the Trump administration attempting to kill the Iran nuclear deal substantially shortened on March 13 with the firing-by-tweet of US Secretary of State Rex Tillerson and his replacement ... more

Billion-dollar petrochemical facility to be built in Turkey by Algeria's Sonatrach

Algerian national energy company Sonatrach has struck a deal with Turkey's Ronesans and Bayegan to build a petrochemical plant worth $1bn in Turkey, Turkish President Recep Tayyip Erdogan said on ... more

Dismiss