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Tunisia annual inflation rate stands at 7.7 % in May 2018

Tunisia’s annual inflation held steady in May at 7.7 percent year-on-year, official data showed on Thursday.

Inflation accelerated from 6.9 percent in January to 7.7 percent in April, its highest level since 1991.

The central bank raised its key interest rate to 5.75 percent in March from 5.0 percent to tackle inflation.

Prices of free products (non-administered) edged up 8.5% against 5.0% for administered products. Free food products rose by 10.6% against 2.4% for administered products.
In May 2018, food prices rose by 9.3% year-on-year (8.9% in April), following the increase in fruit prices by 17.6% and meat by 15.2%, fish 11.1% and edible oils 9.9%.

The transport group prices jumped 9.6%, year-on-year, driven by the 12.9% rise in vehicle prices and 11.8% in vehicle operating expenses.

Similarly, miscellaneous goods and services were up 10.4%, due to the 10.7% rise in personal care, 9.3% in insurance and 7.5% in financial services.

Core inflation rate at 7.2% (overall excluding food and drinks and excluding energy).

The consumer prices rose 0.4% in May 2018, against 1.0% in April. This trend is mainly attributable to higher prices for services (0.5%) and manufactured goods (0.5%).

Similarly, food prices rose by 0.2%, following the increase in prices for the majority of fresh produce in the 2nd half of May, linked to the beginning of Ramadan. Eggs prices climbed 8.5% and meat 1.6%.

According to the INS, prices for clothing products rose 0.8%, as prices for summer apparel rose 0.8% and footwear 0.5%.

Health prices are also up 0.8% due to higher prices for medicines and ambulatory services by 0.9%.

Price increases were also recorded in May 2018, for miscellaneous goods and services (+ 0.5%), as a result of 0.5% increase in personal care prices.

TunisianMonitorOnline

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