Mauritius’ year-on-year inflation at 2.9% last month from 3.8% in August 2014
A decline in vegetable prices on the island economy spurred a fall in inflation, which stood at a much lower 2.9% in September 2014. (Image: Getaway)
Mauritius’ year-on-year inflation rate fell to 2.9% in September from 3.8% a month ago as vegetable prices fell, according to data released by Statistics Mauritius today.
The year-on-year inflation rate for September 2014 is measured by the change in the CPI for September 2014 relative to September 2013, and works out to a much lower 2.9% for last month.
Accordingly, the Consumer Price Index (CPI), which stood at 107.2 in August 2014, registered a net decrease of 0.65% to reach 106.5 in September 2014.
The main contributors towards this downward trend were vegetables, which showed a drop of 0.6 in index points, while motor vehicles, gasoline as well as other goods and services dipped 0.1 each on index points, while other food products rose by 0.2.
Comparing sub-indices for the twelve divisions of consumption expenditure for the month of September 2014 to August 2014, the following major consumption items reinforced the downward trend: ‘Transport’ dipped by 1.7 points, ‘Food and non alcoholic beverages’ declined by 1.6 points, while ‘Recreation and culture’ and ‘Communication’ fell by 0.6 and 0.4 points respectively.
On the uptrend, ‘Miscellaneous goods and services’ increased by 0.7 index points to attain 105.2 points, ‘Furnishings, household equipment and routine household maintenance’ improved by 0.2 index points to reach 102.5 points, and both ‘Restaurants and hotels’ and ‘Clothing and footwear’ increased by 0.1 index points each to attain 111.7 and 110.3 points respectively.
Additionally, an increase of 2.90% is seen in the CPI when comparing the 106.5 index value in September 2014 to the 103.5 index value in September 2013.
Finally, the headline inflation rate for the twelve months ending September 2014 works out to 3.9%, compared to 3.5% for the twelve months ending September 2013.