- 1.40% monthly decrease on CPI of March 2024.
- 0.98% annual increase on CPI of March 2024, compared with March 2023.
The Planning and Statistics Authority (PSA) has released the Consumer Price Index (CPI) for the month of March 2024. The CPI of March 2024 reached 106.67 points showing a decrease of 1.40% when compared to CPI of February 2024. Compared to CPI of March 2023, [Y-o-Y] basis, an increase of 0.98% has been recorded in the general index (CPI) of this month.
When comparing the main components of CPI for the month of March 2024, with the previous month February 2024 (Monthly change), it is found that, there were four groups increased, four groups decreased, and other four groups remained unchanged.
The groups showed decrease as a follow: “Recreation and Culture” by 5.58%, “Food and Beverages” by 4.74%. “Restaurants and Hotels” by 1.92%, “Furniture and Household Equipment” by 0.34%. An increase has been recorded in: “Clothing and Footwear” by 1.88%, “Miscellaneous Goods and Services” by 0.99%, “Transport” by 0.23%, and “Education” by 0.03%. “Tobacco”, “Housing, Water, Electricity and other Fuel”, “Health”, and “Communication” remained flat at the last month’s price level.
A comparison of the CPI, March 2024 with the CPI, March 2023 (Annual Change), an increase has been recorded in the general index (CPI) by 0.98%. This [Y-o-Y] price increase primary due to the prices rising in six groups namely: “Recreation and Culture” by 8.48%, “Communication” by 3.84%, “Education” by 3.48%, “Food and Beverages” by 2.73%, “Furniture and Household Equipment” by 1.28%, and “Miscellaneous Goods and Services” by 0.83%. A decrease has been shown in price levels in “Clothing and Footwear” by 3.58%, followed by “Housing, Water, Electricity and other Fuel” by 2.72%, “Health” by 1.59%, “Transport” by 0.93%, and “Restaurants and Hotels” by 0.61%. No changes recorded on “Tobacco”.
The CPI of March 2024 excluding “Housing, Water, Electricity and other Fuel” group stands at 109.56 points, recorded a decrease of 1.72% when compared to the index of February 2024. Compared with its counterpart in 2023, the CPI of March index increased by 1.90%.
