Jordan inflation rate increases in July amid economic growth

(MENAFN) In July, Jordan experienced a rise in its inflation rate, which climbed to 1.92 percent year-on-year, according to data released by the Department of Statistics. This marks an increase of 0.24 percent compared to the previous month. The rise in inflation is primarily attributed to higher costs in key commodity groups such as vegetables, water and sanitation services, and personal belongings. The increase in these areas has contributed significantly to the overall inflationary pressures in the country.

Additionally, Jordan's Department of Statistics has released quarterly GDP estimates for the first quarter of 2024, indicating a 2 percent growth at constant prices compared to the same period in 2023. The initial sectoral estimates suggest that most economic sectors saw positive growth during this period. This reflects a general upward trend in the country's economic activity, despite the ongoing inflationary challenges.

Overall, while Jordan faces rising inflation, the country's economic indicators show a positive trajectory with growth in various sectors, suggesting a resilient economic performance in the face of inflationary pressures.  

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