Inflation rate in Jordan soars 1.56 percent as main commodities, services increase costs
Date
11/13/2024 7:59:41 AM
(MENAFN) Jordan's Consumer Price Index (CPI) experienced a notable rise of 1.56 percent from the beginning of the year through October, reaching 110.58 points, compared to 108.88 points during the same period in 2023. This increase was primarily driven by higher prices for various goods and services. Among the categories, personal items saw the largest price surge, climbing 11.6 percent, followed by water and sanitation services, which rose by 7.34 percent. Other significant contributors included union dues (up 5.86 percent), rental costs (up 3.86 percent), and tobacco products (up 3.53 percent).
For October specifically, the CPI reached 110.61 points, reflecting a 0.76 percent rise compared to the same month in 2023. The monthly increase was driven by notable price hikes, including a 21.38 percent jump in personal items, a 7.34 percent rise in water and sanitation services, a 6.77 percent increase in tobacco prices, and a 4.82 percent increase in food seasonings and enhancers. These upward movements were partially offset by declines in other categories, such as fruits and nuts, which dropped 6.92 percent, vegetables and pulses, which decreased by 6.31 percent, and furniture and carpets, which fell by 3.04 percent. Additionally, fuel and lighting prices decreased by 2.74 percent.
Despite the overall rise in the CPI, the index remained relatively stable from September to October, with only minor fluctuations in various categories. Some sectors experienced price drops, including meat and poultry, which fell by 1.81 percent, fruits and nuts, which decreased by 1.24 percent, and culture and entertainment, which saw a reduction of 0.95 percent. Transportation costs also decreased by 0.72 percent, while fuel and lighting prices saw a reduction of 0.65 percent.
Overall, while there were several price increases across key categories, the CPI's stability in recent months highlights the mixed nature of inflationary pressures within Jordan's economy. The government and consumers are closely monitoring these fluctuations, as they reflect broader trends in the cost of living and economic conditions in the country.
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