Mauritius sees year-on-year inflation decline to 0.5% in May 2015
In Mauritius, vegetables recorded a drop in prices between April to May 2015, while fish, interest on housing loans and motor vehicles prices were higher, thus leading to a lower CPI for May 2015 against April 2015.(Image:facultyagriculture.blogspot.com)
Mauritius saw year-on-year inflation declining to 0.5% in May 2015 from 2.1% in the previous month, as prices of vegetables decreased, according to data released by Statistics Mauritius on 5 June 2015.
The Consumer Price Index (CPI) for May 2015 stood at 107.3 points, lower than the 110.1 points in April 2015.
The main contributors to the change in the index between April and May 2015 were mainly the drop in the price of vegetables which compensated for rise of other components such as fish, interest on housing, motor vehicles, other food products and services which all increased by 0.1 index points between April and May 2015.
Meanwhile, on percentage change in the index between April and May 2015 under various categories, ‘food and non-alcoholic beverages’ dropped 8.6%, and ‘housing, water, electricity, gas and other fuels’ decreased by 0.7%, followed by the drop in ‘clothing and footwear’ by 0.4%.
Categories reporting higher percentages were ‘transport’, which rose 0.8%, ‘Restaurants and hotels’, which went up by 0.4%, ‘furnishings, household equipment and routine household maintenance’ went up by 0.3%; ‘Health’ inched up 0.3%, and, ‘Alcoholic beverages’ and ‘tobacco’ rose by 0.1% and 0.4% respectively.
In addition, Statistics Mauritius noted that headline inflation for the twelve months ending May 2015 worked out to 2.0%, compared to 4.0% for the twelve months ending May 2014.
CPI inflation is estimated to be moderate during 2015, as the current slack in the domestic economy and subdued energy and food prices are likely to prevent substantial pick-up in inflation in the short term, as per Bank of Mauritius.