Tunisia’s PPI inflation subdued at 1.2% y/y in April

By bne IntelliNews July 1, 2016

Tunisia’s PPI inflation stood at a well anchored 1.2% y/y in April, down from 2.0% y/y in February and 3.0% y/y in January 2016, amid low oil and raw material prices, statistics office data showed.

The PPI inflation in Tunisia remains well below the national CPI inflation that accelerated to a five-month high of 3.6% y/y in May from 3.4% annual expansion the preceding month, on increasing food prices. In January-May 2016, the CPI index grew 3.4% y/y, remaining well in single digits and the c-bank’s comfort zone.

Tunisia’s PPI inflation averaged 1.8% y/y in January-April.

In monthly terms, the PPI grew also a mild 0.3% in April.

The PPI in the mining sector grew 0.6% y/y in April but fell 0.2% m/m amid renewed production of phosphates after a period of strikes.

Higher phosphates output coupled with falling related production prices are also boosting Tunisia’s value-added exports, helping improve its foreign trade parameters.

Manufacturing producer prices (84.8% of the index) increased 1.3% y/y in April on higher food output costs (up1.2% y/y) and textiles (up 3.5% y/y) that offset falling costs of chemicals (down 0.5% y/y) and oil refining (down 0.5% y/y).

Production costs of utilities and gas recorded zero y/y growth in April.

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