5.7% the Average Increase of the Inflation Rate for July 2018

5.7% the Average Increase of the Inflation Rate for July 2018

The monthly report on inflation in Jordan issued by the Department of Statistics indicates that the Consumer Price Average (Inflation) reached 125.3 in July 2018 against 118.6 during the same month of 2017 recorded an increase by 5.7%.The main commodities groups, which contributed to this increase, were “Transport” by 1.77 percentage points “Cereals and its Products” by 1.10 percentage points, “Tobacco and cigarettes” by 0.62 percentage points, “fuel and lighting” 0.55 percentage points, “Vegetables, Dried and Canned Legumes” 0.52 percentage points. Meanwhile, the main commodities groups which witnessed a decrease in their prices were “meat & poultry” by 0.22 percentage points, “ clothes” 0.07 percentage points, “ spices, food enhancers and other foods” by 0.01 percentage points and “footwear” by 0.01percentage points.

The Consumer Price Average for July 2018 has increased by 0.2% compared with the previous month (June) 2018. The main commodities groups which contributed to this increase were “Vegetables, Dried and Canned Legumes” by 0.33 percentage points, “fuel and lighting” by 0.10 percentage points, “Transport” 0.04 percentage points, “Yoghurt and its products and eggs” by 0.02 percentage points. Meanwhile, the main groups which witnessed a decrease in their prices were “meat & poultry” by 0.28 percentage points, “clothes” 0.02 percentage point and “ fruits & nuts” by 0.01 percentage points.
The report also shows that the Consumer Price Average for the first seven months of 2018 has increased by 4.5% compared with the same period of 2017. The main commodities groups which contributed to this increase were “Transport” by 1.39 percentage points, “Cereals and their products” 0.96 percentage points , “Tobacco and cigarettes” by 0.67 percentage points, “Rents” by 0.43 percentage points and “fuel and lighting” by 0.35 percentage points. Meanwhile, the main commodities groups which witnessed a decrease in their prices were “Vegetables, Dried and Canned Legumes” 0.25 percentage points , “Clothes” 0.05 percentage points and “footwear” by 0.01 percentage points.

As for the core inflation of the consumer Price index for July 2018 (which is calculated after excluding the most fluctuating commodities’ prices of food, fuel , lighting and transport group) it has reached 129.0 against 126.0 recording an increase of 2.4% during the same month of 2017.
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