Unfavourable seasonal factors coupled with higher private consumption and local demand for food, clothing and entertainment during the holy month of Ramadan, lifted Tunisia’s CPI inflation to a six-month high of 3.9% y/y in June from 3.6% y/y the preceding month, the statistics office INS said.
In January-June, the CPI index rose 3.5% y/y, remaining well anchored and in single digits, thus within the c-bank’s comfort zone. The central bank is sustaining its wait-and-see monetary stance by holding the benchmark rate unchanged at 4.25%, seeking to spur GDP growth amid still anchored inflation.
In monthly terms, the CPI increased 0.4% in June, easing from 0.6% m/m in May.
Food and beverages prices rose 0.3% m/m in June, fuelling the annual growth to a seven-month high of 3.7% from 2.9% y/y in May.
Fresh vegetables prices climbed 12.2% y/y in June and those of poultry grew 4.6% y/y. Prices of edible oils also increased 7.7% y/y in June.
Housing and utilities prices (14% of the basket) rose 1.5% m/m in June, lifting the annual increase to a seven-month high of 5.6% from 4.8% in May.
Rents charges climbed 7.3% y/y during the month on strong local demand. Those of potable water climbed 13.4% y/y in June.
Transport prices rose 1.2% y/y, the same as in May, while those of clothing and footwear rose 7% y/y amid strong local demand during Ramadan.
| May-15 (y/y) | May-16 (y/y) | June-16 (y/y) | |
| CPI (y/y) | 5,0% | 3,6% | 3,9% |
| Food/beverages | 5,1% | 2,9% | 3,7% |
| Tobacco | 9,9% | -0,6% | -0,5% |
| Clothing/Footwear | 7,2% | 7,0% | 7,0% |
| Housing/utilities | 4,8% | 4,8% | 5,6% |
| Furniture/equipments | 5,9% | 5,0% | 4,0% |
| Health | 3,5% | 2,3% | 2,3% |
| Transport | 2,9% | 1,2% | 1,2% |
| Communications | -4,2% | 0,0% | -0,5% |
| Recreation/culture | 3,4% | 1,3% | 0,8% |
| Education | 4,7% | 10,1% | 10,1% |
| Rest/Hotels | 12,0% | 4,2% | 3,3% |
| Other serivces | 6,6% | 6,3% | 5,6% |
| Source: INS |
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