Inflation in April 2016

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, increased to 4.3 per cent in April 2016 from 2.2 per cent in March 2016, on year-on-year basis. Food and Non Alcoholic Beverages; Alcoholic Beverages and Tobacco; Clothing and Footwear; Furnishings, Household Equipment and Routine Household Maintenance; Heath; Transport; Recreation and Culture; Education; Restaurants and Hotels and Miscellaneous Goods and Services sub categories contributed towards the year-on-year inflation in April.

The change in the NCPI measured on an annual average basis increased to 2.6 per cent in April 2016 from 2.4 per cent recorded in March 2016.

When the monthly change in the NCPI is considered, the NCPI increased by 1.5 per cent from 110.0 index points in March 2016 to 111.6 index points in April 2016. This monthly increase was mainly due to the increase in prices of the items in the Food and Non Alcoholic Beverages category. Prices of fresh fish, salt, rice, some fruits, potatoes, sugar, chicken, eggs and bread increased during the month. Prices in Alcoholic Beverages and Tobacco; Clothing and Footwear; Housing, Water, Electricity, Gas, and Other Fuels; Furnishing, Household Equipment and Routine Household Maintenance; Transport; Restaurants and Hotels and Miscellaneous Goods and Services sub-categories increased during April 2016. Meanwhile, prices in Health; Communication; Recreation and Culture and Education sub-categories remained unchanged during the month. The change in NCPI in April does not include the direct impact of recent changes in Value Added Tax (VAT) and Nation Building Tax (NBT), which were effected from May 2016.

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Published Date: 

Thursday, May 26, 2016