Planning and Statistics Authority Releases The Consumer Price Index February 2022 (Base year 2018=100)

14/03/2022

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0.26% monthly increase on CPI of February 2022.
3.99% annual increase on CPI of February 2022, compared with February 2021.

The Planning and Statistics Authority (PSA) has released the Consumer Price Index (CPI) for the month of February 2022. The CPI of February 2022 reached to 100.89 points showing a Decrease by 0.26% when compared to CPI of January 2022. Compared to CPI of February 2021, [Y-o-Y basis], an increase of 3.99% has been recorded in the general index (CPI) of this month. 
 
An analysis [on M-o-M basis] of CPI for February 2022 compared with CPI, January 2022, showed that there were three main groups, where respective indices in this month have Decreased, namely: “Recreation and Culture” by 3.37%, “Transport” by 0.98%, “Food and Beverages” by 0.34%.
An increase has been recorded on in: “Housing, Water, Electricity and other Fuel” by 1.36%, “Miscellaneous Goods and Services” by 0.49%, “Clothing and Footwear” by 0.23% “Restaurants and Hotels” by 0.19%, and slightly increase almost stable on “Furniture and Household Equipment” by 0.01%.  “Tobacco”, “Education,” “Health”, and “Communication” had remained flat at the last month’s price level. Table (1) show the monthly and annual Comparison for CPI February 2022, and Graphs (1), (2) show the movement of monthly CPIs of “Food and Beverages” and “Housing, Water, Electricity and Gas” from 2021 to 2022.

A comparison of the CPI, February 2022 with the CPI, February 2021 (Annual Change), an increase has been recorded in the general index (CPI), by 3.99%. This [Y-o-Y] price increase primary due to the prices rising in nine groups namely: “Recreation and Culture” by 22.16%, followed by “Food and Beverages” by 6.92%, “Transport” by 4.94%, Miscellaneous Goods and Services” by 3.33%, “Clothing and Footwear” by 3.32%, “Housing, Water, Electricity and other Fuel” by 0.55% “Education” by 0.48%. “Furniture and Household Equipment” by 0.41% “Communication” by 0.31%. A Decrease has been shown in price levels in “Health” by 3.09%, and “Restaurants and Hotels” by 2.45%. No changes recorded on “Tobacco”. Graph (3) shows a monthly and an annual change in CPI from February 2021 to February 2022.
The CPI of February 2022 excluding “Housing, Water, Electricity and other Fuel” group stands at 103.95 points recorded a decrease by 0.62%, when compared the index of January 2022, with counterpart in 2021, the CPI of February index increased by 4.82%. Table (2) presents CPI excluding “Housing, Water, Electricity and other Fuel” and Graph (4) shows the annual percentage change of CPI with and without Housing components.

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