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 |
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