Mauritius sees higher inflation in August 2014 as food prices rise
The year-on-year inflation rate for August 2014, as measured by the change in the CPI for August 2014 relative to August 2013, works out to 3.8% compared to 3.1% for July 2014, spurred on by rising vegetable prices. (Image: Panoramio)
Mauritius saw a rise in prices in August 2014, spurred by rising cost of vegetable, according to data released on Friday by Statistics Mauritius.
The year-on-year inflation rate for August 2014, as measured by the change in the CPI for August 2014 relative to August 2013, works out to 3.8%, compared to 3.1% for July 2014.
The Consumer Price Index (CPI), which stood at 106.8 in June 2014, registered a net increase of 0.37% to reach 107.2.
Also, an increase of 3.77% was seen in the CPI to 107.2 in August 2014 from 103.3 in the corresponding period of 2013.
The main contributors towards the net increase in the CPI from July 2014 to August 2014 were vegetables, motor vehicles, and, other goods and services, which showed an increase of 0.3, 0.1, and 0.1 points respectively, while gasoline prices decreased by 0.1 points.
Comparing sub-indices for the twelve divisions of consumption expenditure for the month of August 2014 to July 2014, the following major consumption items reinforced the downward trend: ‘Recreation and culture’ dipped by 0.6 points while ‘Miscellaneous goods and services’ fell by 0.2 index points to hit 105.6 and 104.5 points respectively.
On the uptrend, ‘Food and non alcoholic beverages’ increased by 1.1 index points to reach 108.4 points; ‘Health’ grew by 0.8 index points to 109.8 points; and ‘Clothing and footwear’ and ‘Education’ both climbed by 0.4 index points each to attain 110.2 and 103.7 points respectively.
In addition, ‘Communication’ saw an increase of 0.3 index points to reach 99.8 points and both categories of ‘Furnishings, household equipment and routine household maintenance’ as well as ‘Transport’ increased by 0.2 index points each to reach 102.3 and 107.2 points respectively.
Finally, the headline inflation rate for the twelve months ending August 2014 works out to 4.0% compared to 3.5% for the twelve months ending August 2013.