By Salawati Haji Yahya –
BANDAR SERI BEGAWAN, NOV 21 – The Consumer Price Index (CPI) showed a decrease of 0.8 percent for the month of October 2024 compared to the month of October 2023.
It was driven by a 0.8 percent decline in both the food and soft drink index; and the non-food index and the decrease in the food and soft drink index was driven by the decrease in meat prices (1.6 percent), especially the price of processed meat foods; and the price of vegetables (3.4 percent).
Meanwhile, the decline in the non-food index was mainly due to a 1.5 percent drop in transport prices, particularly the price of airline tickets.
In addition, the price of clothing and shoes by 4.5 percent also contributed to the decrease in the non-food index.
For a month-to-month comparison, the October 2024 CPI decreased by 0.3 percent from September 2024, following a decrease in the food and soft drinks index; and the non-food index of 0.1 percent and 0.3 percent respectively.
The decrease for the food and soft drinks index was mainly contributed by fish and seafood (0.4 percent); and meat (0.2 percent), while the decline in the non-food index was mainly contributed by the price of clothing and footwear (5.8 percent); and transportation (0.2 percent).
The CPI measures the change in the price of a basket of goods and services paid by consumers over a set period of time and is collected monthly.
The list of goods and services in the CPI is based on the average expenditure information of a family obtained through the Family Expenditure Study.
The full CPI report for the month of October 2024 can be found on the JPES website via https://deps.mofe.gov.bn.
