Consumer Price Index (CPI) Increased by 0.76% in October 2024
The Department of Statistics issued its monthly report on the Consumer Price Index (CPI) (Inflation) for October 2024 which observed an increase by 0.76% compared to the same month of 2023, and an accumulative increase for the first ten months of 2024 by 1.56% compared to the same period of 2023.
Accordingly, the CPI for October 2024 has reached 110.61 percentage points against 109.78 for the same month of 2023, while the CPI for October 2024 has reached 110.61 against 110.81 for September 2024. On the accumulative level, the CPI for the first ten months of 2024 has reached 110.58 against 108.88 for the same period in 2023.
The groups that mainly contributed to the increase of the CPI for October 2024 compared to the same month in 2023 are the “Personal Effects” by 21.38%, “Water and Sanitation” by 7.34%, “Tobacco and Cigarettes” by 6.77% “Contribution to Unions” by 5.86%, and “Spices and food additives, other food” by 4.82%. Meanwhile, the groups that contributed in reducing the increase are the “fruits and nuts” with a decrease of (6.92%), “Vegetables and dry and canned legumes” by (6.31%), “Furniture, rugs and bedding” by (3.04%) and “Fuels and Lighting” by (2.74%).
Comparing the accumulative CPI for the first ten months of 2024 with the same period in 2023, the index has increased for the “Personal Effects” by 11.60%, “Water and Sanitation” by 7.34%, “Contribution to Unions” by 5.86%, “Rents” by 3.86%, and “Tobacco and Cigarettes “by 3.53%.
