The inflation rate eased slightly to 9.3% in June 2023, compared to 9.6% in May, according to a statement released on Wednesday by the National Institute of Statistics (INS) on the ‘Consumer Price Index for June 2023.’ This decline in inflation, despite the monthly increase, is due to the deceleration in the pace of price growth between June and May this year, compared to the same period last year. In fact, a slowdown is observed in the rate of price increase for the “food products” group, decreasing from 0.5% to -0.1%, the prices of the “furniture, household goods, and household maintenance” group, with the rate of growth decreasing from 1.7% to 0.8%, and for the prices of the “leisure and culture” group (from 1.1% to 0.7%). In June 2023, consumer prices increased by 0.4%, compared to a 0.5% rise in the previous month, following the increase in prices for the “clothing and footwear” group by 1.8%, food prices by 0.4%, and prices of restaurant and hotel services by 1.2%. Furthermore, food prices dropped slightly (-0.1%), due to a decline in the prices of eggs (-6.9%), fresh vegetables (-3%), and fresh fruits (-1.1%). On the other hand, there is a rise in prices for sheep meat (+5.4%) in connection with the advent of Aid Al-Idha. The same applies to the prices of mineral water and carbonated beverages, which increased by 0.8%. As for restaurant and hotel services, the growth of 1.2% is mainly explained by the increase in prices for restaurant and café services by 0.9% and hotel services by 3.5%. Additionally, clothing prices increased by 2%, footwear prices by 1.7%, and accessory prices by 0.9%. // Year-on-year price changes Over the course of one year, food prices jumped 15.2% in June 2023. This increase is mainly due to the rise in prices of sheep meat by 36.3%, poultry meat by 28.4%, eggs by 27.5%, edible oils by 21.8%, and beef by 21.3%. The prices of manufactured goods also saw a year-on-year increase of 8% due to the rise in prices of construction materials by 6.8%, clothing products by 9.7%, and household maintenance products by 9.4%. For services, prices increased by 6.4%, mainly driven by the price growth of restaurant, café, and hotel services by 10.3%, public and private transportation services by 16.9%, and financial services by 20.7%. // Core inflation rate decreases to 7.4% The core inflation rate (excluding food and energy) decreased to 7.4% from 7.5% the previous month. Prices of free-market products climbed 10.7% over the year. On the other hand, regulated prices saw a 4.9% rise. Free-market food products experienced a 17.8% rise, while regulated food products increased by 0.8%.
Source: EN – Agence Tunis Afrique Presse