Inflation rate reaches 6.3% in November 2017 (BCT) | Tunisia News Gazette

Inflation rate reaches 6.3% in November 2017 (BCT)

The inflation rate worsened in November 2017, reaching 6.3% year on year (yoy) against 5.8% in October 2017, said Thursday the Central Bank of Tunisia in a note of conjuncture.

The rise in inflation concerned both free and administered prices, which rose by 7.2% and 3.6% yoy respectively in November 2017, compared to 6.8% and 2.6% a month earlier, levels significantly higher than those recorded in November 2016 (4.8% and 1.2% respectively).

The significant increase in free prices was supported by food products (+ 10.2% in November, against + 8.4% in October), especially for their transformed component (11.5% in November against 10, 8% in October 2017 and only 3.1% in November 2016).

The significant increase in free prices was supported by food products (+ 10.2% in November, yoy against + 8.4% in October), especially for their transformed component (11.5% in November against 10, 8% in October 2017 and only 3.1% in November 2016).

As for the firming of inflation at administered prices (+ 3.6% in November 2017 against + 2.6% the previous month), it is due to the sharp rise in inflation of manufactured goods, in relation with a base effect caused by the fall in tobacco prices in November 2016.

The analysis by branch of activity shows that the main components of the consumer price index (CPI) have undergone contrasting developments. Indeed, while food inflation has accelerated sharply, that of manufactured goods has risen moderately. As for the inflation of services, it rather registered a quasi-stability in its rate of evolution.

The consequent rise in food prices (+ 8.7% in November yoy against + 7.2% in October), was mainly driven by the acceleration of the inflation of fresh food products (+ 9.4% yoy against + 7.1%) due to the decrease of the supply on the domestic market of certain products.

Regarding inflation of manufactured products, it recorded, in November 2017, an increase of 6.3% yoy against 6.1% a month earlier.

This acceleration is reflected in the prices of manufactured products (household equipment (+ 3.6% yoy against + 3.2%), building materials and housing maintenance (+ 10.3% yoy against. +8) , 4%), cleaning products (+ 4.7% yoy against + 4.2%) and other manufactured products (+ 6.8% yoy against + 5.9%), clothing and footwear were relatively relaxed compared to the previous month (+ 6.6% yoy against + 7.9%).

Service inflation has evolved at the same rate as that of October 2017, ie 4.3% yoy. This increase has resulted from disparate changes in the main components. Indeed, while the inflation of the rent service and that of the other services remained at the same level of the previous month, respectively 4.5% and 6.4% yoy, the inflation of the public tariffs knew a slight slowdown (+ 1.7% yoy against + 1.8% a month earlier).

As for the inflation of health and hygiene services, it recorded a more sustained increase (6.0% yoy against 5.5% a month earlier).

On the other hand, the two main indicators of core inflation remained at a relatively high level. Inflation “excluding administered products and fresh food”, although showing a slight decline yoy, stood at 6.6% in November against 6.7% a month earlier. On the other hand, “non-food and energy” inflation rose to 5.5% against 5.3% in October 2017.

On average, the two underlying indices averaged 6.3% and 5.4%, respectively, in the first 11 months of 2017, compared with 5.1% and 4.7%, respectively, in the same period of 2016, indicating the persistence of inflation.

Source: TAP News Agency

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