Higher food price growth fuelled Tunisia’s CPI inflation to a still anchored 3.4% y/y in April from 3.3% y/y the preceding month, the statistics office INS said.
The print accommodates the c-bank monetary stance by leaving the key rate on hold at 4.25% at its latest MPC sitting held on April 28, seeking to reignite the tumbling GDP growth.
In January-April 2016, the CPI index grew 3.4% y/y, remaining well in single digits and the c-bank comfort zone.
In monthly terms, the CPI increased 0.7% in April compared with zero m/m growth in March.
Food and beverages prices rose 0.3% m/m in April, lifting the annual growth to a still anchored 1.8% from 1.3% y/y in March. Fresh fruits increased 2.3% m/m and 11.9% y/y in April. Those of fresh vegetables rose 1.4% m/m and 2.7% y/y. Tobacco and alcoholic costs fell 0.5% y/y in April.
Housing and utilities prices (14% of the basket) rose 0.5% m/m in April, but the annual growth cooled to 4.6% from 4.9% y/y in March. Rents charges climbed 7.0% y/y during the month on strong local demand.
Transport prices rose 1.5% y/y, the same as in March as oil prices kept sinking and the government liberalised the fuel market.
Apr-15 | March-16 | Apr-16 | |
CPI (y/y) | 5,7% | 3,3% | 3,4% |
Food/beverages | 7,2% | 1,3% | 1,8% |
Tobacco | 9,9% | -0,3% | -0,5% |
Clothing/Footwear | 7,5% | 8,6% | 8,1% |
Housing/utilities | 5,4% | 4,9% | 4,6% |
Furniture/equipments | 5,5% | 5,2% | 5,3% |
Health | 4,0% | 2,3% | 2,3% |
Transport | 2,9% | 1,5% | 1,5% |
Communications | -2,9% | -1,6% | -1,4% |
Recreation/culture | 3,0% | 2,4% | 1,9% |
Education | 4,6% | 9,9% | 10,2% |
Rest/Hotels | 10,9% | 5,3% | 4,8% |
Other serivces | 6,6% | 6,1% | 6,2% |
Source: INS |
UK renewable energy producer Xlinks, noting significant upward pressure on the cost of all energy projects, has warned that construction of the Morocco-UK Power Project could reach $27bn to $30bn, up ... more
The Moroccan government is in extensive talks to attract more electric vehicle (EV) battery manufacturers to support its growing automotive sector and meet soaring demand, industry and trade minister ... more
United Arab Emirates renewable energy company Masdar has partnered with Uzbekhydroenergo to evaluate the potential of national hydroelectric power storage projects. Masdar and Uzbekhydroenergo, a ... more