The an­nual in­fla­tion rate for Au­gust 2015 rises by 3.10 per­cent

Bhutan Times - - Home - Sonam Pen­jor

he an­nual in­fla­tion rate from Au­gust 2014 to Au­gust 2015 was raised by 3.10 per­cent which was 0.34 per­cent­age point lower than the pre­vi­ous month which was 3.44 per­cent.

Ac­cord­ing to the monthly con­sumer price in­dex (CPI) bul­letin Au­gust 2015, com­plied by Na­tional Sta­tis­tics Bureau recorded that prices for food has risen by 2.29 per­cent and non-food prices by 3.64per­cent.

The prices of do­mes­tic goods and ser­vices have in­creased by 3.74 per­cent due to in­crease in food prices by 2.62 per­cent and non-food prices by 4.38 per­cent.

Whereas the prices of im­ported goods in­creased by 2.55 per­cent be­cause of the in­crease in food prices by 2.12 per­cent and non-food prices by 2.90 per­cent.

While, the CPI is a mea­sure of changes in the av­er­age re­tail prices of a mar­ket bas­ket of goods and ser­vices pur­chased by house­holds for day-to-day liv­ing. It also shows how much, on av­er­age, prices of goods and ser­vices have in­creased or de­creased from a par­tic­u­lar ref­er­ence pe­riod, com­monly known as the base pe­riod.

The re­port states that the new re-based CPI uses the Clas­si­fi­ca­tion of In­di­vid­ual Con­sump­tion Ac­cord­ing to Pur­pose (COICOP): the 12 ma­jor groups which in­cludes Food and Non-Al­co­holics Bev­er­ages; Al­co­holic Bev­er­ages & Nar­cotics; Cloth­ing and Footwear; Hous­ing, Wa­ter, Elec­tric­ity, Gas and Other Fu­els; Fur­nish­ing, House­hold Equip­ment and Rou­tine House­hold Main­te­nance; Health; Trans­port; Com­mu­ni­ca­tion; Recre­ation and Cul­ture; Ed­u­ca­tion; Res­tau­rant and Ho­tels and Mis­cel­la­neous Goods and Ser­vices.

Of the twelve ma­jor groups, the high­est per­cent­age change in in­fla­tion rate from Au­gust 2014 till Au­gust this year was in res­tau­rant and ho­tels with 7.60 per­cent in­fla­tion rates and fol­lowed by the ed­u­ca­tion sec­tors with 6.71 per­cent and the com­mu­ni­ca­tion was the low­est changes with 0.16 per­cent of in­fla­tion rate.

Whereas for food groups items, the high­est per­cent­age change in the in­fla­tion rates from Au­gust 2014 till Au­gust this year was with milk, cheese and eggs with 4.58 per­cent and low­est with fruits with neg­a­tive 5.10 per­cent.

While for the non food prod­ucts, the high­est per­cent­age change in the in­fla­tion rates over the year that is from Au­gust 2014 till Au­gust this year was for pur­chas­ing of the ve­hi­cle with 9.41 per­cent fol­lowed by the cater­ing ser­vices with 8.65 per­cent and the low­est was with fu­els and lu­bri­cant with neg­a­tive 7.23 per­cent.

Ac­cord­ing to the monthly re­port, the month-to-month in­fla­tion for Au­gust over pre­vi­ous month of July was 0.35 per­cent. The prices of the foods and non-food have in­creased by 0.74 per­cent and 0.09 per­cent re­spec­tively.

The prices for do­mes­tic goods and ser­vices have in­creased by 0.57 per­cent on an av­er­age over the pre­vi­ous month with cor­re­spond­ing in­crease in food and non-food prices by 0.84 per­cent and 0.42 per­cent

The prices for im­ported goods have also in­creased by 0.14per­cent due to in­crease in food prices by 0.65 per­cent and non-food prices by neg­a­tive 0.24 per­cent.

The pur­chas­ing power of ngul­trum (PPN), as mea­sured by CPI was 82 Ngul­trum as of Au­gust this year. This means, Ngul­trum 100 in Au­gust this year was worth only Ngul­trum 82 at De­cem­ber 2012 prices. The PPN has de­creased by 3.00 per­cent in the past 12 months (i.e. from Au­gust 2014 to Au­gust 2015) due to price rise in the econ­omy.

Mean­while, the prices are col­lected online from the sam­pled out­lets by price col­lec­tors us­ing mo­bile ap­pli­ca­tion de­vices once ev­ery month and the Bul­letin is com­piled us­ing De­cem­ber 2012 as the price ref­er­ence pe­riod and tracks the price move­ments of 436 com­modi­ties and ser­vices in 20 dis­tricts and 2 ma­jor ur­ban ar­eas.

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