Inflation rises by 1.7% in first seven months of 2024 - DoS

AMMAN — General Consumer Price Index (CPI), a key measure of inflation, increased by 1.7 per cent in the first seven months of 2024, reaching 110.45 points compared with 108.6 points in the same period of 2023, according to the latest report from the Department of Statistics (DoS) released on Sunday.

The report cited personal effects as the most significant contributors to increasing inflation, accounting for 8.88 per cent increase, followed by water and sanitation at 7.34 per cent, union contributions at 5.86 per cent, rents at 3.97 per cent, and vegetables, dried and canned legumes at 3.96 per cent, the Jordan News Agency, Petra, reported. 

For July 2024, the CPI reached 111 points, marking a 1.92 per cent increase compared with 108.91 points in July 2023. Key drivers of the monthly inflation were personal luggage, up by 11.81 per cent, dried and canned vegetables and legumes by 9.88 per cent, water and sanitation by 7.34 per cent, fruits and nuts by 7.18 per cent, and union contributions by 5.86 per cent. 

However, declines in oils and fats by 2.08 per cent, furniture, carpets, and bedding by 1.69 per cent, clothing by 1.58 per cent, and home textiles by 1.36 per cent helped moderate the overall increase, Petra reported.

On a month-to-month basis, the index for July 2024 edged up by 0.24 per cent, reaching 111 points compared with 110.74 points in June of the same year. The most notable contributors to the monthly rise were vegetables, dried and canned legumes at 9.39 per cent, personal belongings at 1.33 per cent, fruits and nuts at 1.25 per cent, spices, food enhancers, and other foods at 0.69 per cent, and the culture and entertainment category at 0.58 per cent.