BANDAR SERI BEGAWAN, Nov. 10 (Xinhua) — Brunei’s consumer price index (CPI) in September increased by 0.4 percent year-on-year compared to September 2017, owing to the rise in prices of food and education, according to the latest statistics from Brunei’s Department of Economic Planning and Development (JPKE) at the Ministry of Finance and Economy.
In its monthly CPI report, JPKE said that the food and non-alcoholic beverages prices and non-food prices increased by 1.6 percent and 0.4 percent year-on-year respectively.
The increase in the overall CPI in September was largely attributed to the rise in the indices of food and non-alcoholic beverages (1.6 percent); education (1.7 percent); and recreation and culture (1.2 percent).
A senior manager of Baiduri Bank, which is the second biggest local bank by total assets in Brunei, told Xinhua that the country’s CPI has been stable for the past year, which is supportive of local economic growth.
On a month-a-month basis, the CPI in September 2018 increased by 0.3 percent compared to August 2018.
CPI is a measure of price changes of goods and services paid by the consumer in a specified period. Brunei’s list of goods and services in the CPI is based on the average expenditure per household.