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

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

Dismiss