June inflation up 6.4%

Friday, 22 July 2016 00:15 - - {{hitsCtrl.values.hits}}

Inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), which is compiled by the Department of Census and Statistics, has increased to 6.4% in June 2016 from 5.3% in May 2016, on a year-on-year basis.

Both Food and Non-food categories contributed towards year-on-year inflation in June 2016. The change in the NCPI measured on an annual average basis increased to 3.1% in June 2016 from 2.7% in May 2016.

When the monthly change in the NCPI is considered, the NCPI increased by 2.1% from 113.7 index points in May 2016 to 116.1 index points in June 2016.

This monthly increase was mainly due to the increase in prices of the items in the Food category. Prices of vegetables, green chillies, rice, fresh fish, sugar, potatoes and red onions increased during the month.

Within the Non-food category prices in Clothing and Footwear; Housing, Water, Electricity, Gas, and Other Fuels; Furnishing, Household Equipment and Routine Household Maintenance; Communication; Restaurants and Hotels and Miscellaneous Goods and Services sub-categories increased during June 2016.

Meanwhile, prices in the Alcoholic Beverages and Tobacco subcategory decreased during June 2016. Nevertheless, prices in the Health; Transport; Recreation and Culture; and Education sub-categories remained unchanged during the month.

Meanwhile, NCPI Core inflation, which reflects the underlying inflation in the economy increased to 7.7% in June 2016 from 7.2% in May 2016, on a year-on-year basis. Annual average NCPI Core inflation increased to 5.3% in June 2016 from 5.0% in May 2016.