BANDAR SERI BEGAWAN (Borneo Bulletin/Asia News Network): The consumer price index (CPI) in February increased by 3.2 per cent year-on-year compared to February 2021, according to a release from the Department of Economic Planning and Statistics (DEPS), Ministry of Finance and Economy.
The rise in the CPI was in line with the increase in non-food and food and soft beverage prices by 3.3 per cent and 2.6 per cent, respectively.
The increase in the non-food component was driven by miscellaneous goods and services (14.0 per cent), clothing and footwear (10.4 per cent), and transport (4.7 per cent).
Miscellaneous goods and services prices rose mainly due to the increase in the price of vehicle insurance.
Meanwhile, the price increase in clothing and footwear was due to the increase in prices of women’s outer clothing. Rising prices of motor cars and air fares continue to drive up transport prices.
The increase in food and non-alcoholic beverages was due to the rise in prices of food such as cooking oil (17.3 per cent); meat (7.1 per cent); and fish and seafood (3.9 per cent).
Among others, the rise in food price is due to higher import prices. Meanwhile, beef and buffalo prices have risen due to higher import prices and supply shortage.
The index which registered a year-on-year decrease was communication by 0.9 per cent. For month-on-month changes, the CPI in February 2022 increased by 0.8 per cent compared to January 2022.
The Food and Non-Alcoholic Beverages Index and the Non-Food Index increased by 0.8 per cent respectively.
The CPI is a measure of price changes of goods and services paid by the consumer in a specified period and compiled on a monthly basis.
The list of goods and services in the CPI is based on the average expenditure per household from the Household Expenditure Survey (HES).
The CPI full report for February 2022 is available from DEPS’ website: deps.mofe.gov.bn.
