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
Iraq holds talks with Excelerate Energy on buying first LNG from US
Iraq is in the final stages of negotiating its first-ever purchase of LNG supplies as power outages hamper the Middle East country, Bloomberg reported on June 26. Dallas-headquartered Excelerate ... more
Reformist Kamil al-Tayeb Idris appointed as Sudan’s new Prime Minister
Sudan’s Sovereign Council head, Abdel Fattah al-Burhan, issued a constitutional decree on May 19 appointing Kamil al-Tayeb Idris as the new prime minister, Al Sharq Al Awsat reported. He also ... more
Egypt examines LNG supply offers from Saudi Aramco, UAE’s Adnoc, Algeria’s Sonatrach, and QatarEnergy
Egypt's state-owned gas company EGAS has received several offers to supply liquefied natural gas (LNG) shipments urgently needed for summer, Al Sharq reported on May 18, citing an unnamed government ... more
Most Read
-
Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
17 days ago
-
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
10 months ago
-
Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
3 years ago