Consumer price index remains stable in July

Ministry of Development Planning and Statistics (MDPS) have released the Consumer Price Index (CPI) for July 2013. The CPI settled 114.5, showing no change increase when compared to the CPI of June 2013, and an increase of 3.1% when compared to the CPI of July, 2012. A comparison of the CPI of July, 2013 with that of the previous month (CPI of June, 2013) by major groups, shows increases in most groups, namely: "Entertainment, recreation and culture" by 1.2%, Garment and Footwear 0.5%, Furniture, textiles and home by 0.3%On the other hand, prices declined by 1.3% in "Miscellaneous goods & services" due to a decrease in the gold price and hotel booking price, in "Food Beverages & Tobacco" by 0.8% and that because of discounted prices during Ramadan. The year-on-year comparison, comparing the CPI of July 2013 with that of July 2012, shows increase of 3.1% at the overall level. Increases were recorded in all groups except "Miscellaneous goods & services" where prices declined by 3.2%. The highest increases recorded in various groups include: "Entertainment, recreation and culture":9.3%, "Rent, Fuel and Energy: 6.5% and "Medical care and Medical services": 2.5%. A CPI exclusive of "Rent, Fuel and Energy" group has also been calculated. After eliminating the effect of rent, the overall index settled 126.3, showing no change compared to the CPI of June 2013, and an increase of 1.9% when compared to CPI of July 2012