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Yemen's headline inflation rate edges down to 11.8% to end Q3

Yemen's headline inflation rate edges down to 11.8% to end Q3

[01/December/2010]


SANA’A, Dec. 01 (Saba)- Figures from the Central Statistical Organisation have showed that consumer price inflation edged down to 11.8% year-on-year (y/y) in September, although on a monthly basis prices jumped 1.3%.

Movements of food and beverage prices, which alone represent just under 44% of the index by weight, were the largest contributor to the deceleration in price increases as prices jumped 10.7% y/y during September, down from 11.6% y/y in the previous month.

During the third quarter however food and beverage prices increased 11.5% on average, virtually unchanged from the quarter prior and well above the 5.8% average increase registered during the same quarter of 2009.

In fact, headline consumer price inflation during the third quarter averaged 12% y/y, more than double the inflation rate registered during the third quarter of 2009.

In fact, in every major category except education, restaurants and hotels, and clothing and footwear, price increases were considerably higher during the third quarter when compared with the same quarter of last year.

While the new inflation figures report decelerating inflation in recent months, on average price increases remain substantially higher than the relatively low inflation rate measured in 2009.

Much of this increase is attributable to higher global commodity prices, which have rebounded sharply from global recession lows, and for which Yemen relies heavily on imports.

Saba

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