The composite Consumer Price Index (CPI) for June 2016 increased by 2.26 percent year-on-year to 108.29, according to information released by the Statistics and Census Service (DSEC). This has indicated a slowdown of 0.38 percentage points from the 2.64 percent year-on-year growth in the previous month.
DSEC accredits the increment rise to higher rental costs for parking spaces as well as increased prices for food and tobacco.
The composite CPI for June increased by 0.11 percent month-to-month. Higher prices of some cigarette brands and new arrivals of summer clothing and footwear drove up the price indexes of Alcoholic Beverages & Tobacco and Clothing & Footwear by 2.88 percent and 1.71 percent respectively.
On the contrary, falling prices of vegetables and fruits offset the rise in prices of fresh fish and the cost of eating out, bringing down the price index of Food & Non-Alcoholic Beverages by 0.14 percent month-to-month.
The price index of Housing & Fuels decreased by 0.14 percent due to the greater effect posed by the reduction in rent over the increase in property management fees.
For the 12 months ending June 2015, the average CPI increased by 3.67 percent from the previous period, led by an increase in the prices of alcohol, tobacco and education, according to DSEC.
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