Inflation index on the rise

CPI posts 6 percent yearly increase; food and transportation main drivers up

July 25, 2011-The Consumer Price Index (CPI) rose to 115.7 at end June 2011, a six percent increase from 109 at end June 2010, according to figures released by the Central Administration for Statistics.

The CPI’s biggest changers up were food & non-alcoholic beverages, which accounts for around 20 percent of the index weight, followed by transportation, which accounts for 12 percent, and water, electricity, & fuel, with 9 percent of the index weight.

Prices of food & non-alcoholic beverages rose by 7.6 percent year-on-year from June 2010. Transportation costs in June grew by around six percent from a year earlier; however they dropped by two percent from May 2011.Prices of water, electricity, & fuel grew by 13 percent compared to June 2010, but dropped by a slight 1.3 percent from May 2011.

Prices of clothing & footwear jumped by 21 percent year-on-year, education costs rose by 6.7 percent, and the prices of restaurants & hotels grew by six percent. Health care costs also went up by around six percent.
The Consumer Price Index grew by 5.6 percent year-on-year in May, and by 5.3 percent year-on-year in April.