Consumer Price Index (CPI) Increased by 1.87% in August 2024
The Department of Statistics issued its monthly report on the Consumer Price Index (Inflation) for August 2024 which observed an increase by 1.87% compared to the same month of 2023, and a slight increase by 0.15% (less than one percentage point) compared to July 2024. On the accumulative level, the CPI for the first eight months of 2024 has increased by 1.73% compared to the same period in 2023.
Accordingly, the CPI for August 2024 has reached 111.17 percentage points against 109.13 for the same month of 2023, while the CPI of August 2024 has reached 111.17 against 111.00 for July 2024. On the accumulative level, the CPI for the first eight months of 2024 has reached 110.54 compared to 108.67 for the same period in 2023.
The increase in the CPI for August 2024 compared to the same month in 2023 was mainly driven by the following groups: the “Personal effects” group by 15.41%, “Vegetables and dry and canned legumes” group by 9.67%, “Water and Sanitation” group by 7.34%, “Contribution to Unions” group by 5.86%, and “Culture and entertainment” with a 5.07%. Conversely, the increase was mitigated by the following groups: “Furniture, Carpets and linens” group with a decrease by (3.01%), “Oils and fats” group by (2.07%), “Clothing” group by (1.58%) and “Home maintenance services” group by (1.42%) decrease.
