January 9, 2008

5.4% the Inflation Rate in Jordan for 2007

This means that the price of purchasing goods increased about 5.4% over the past year. Also, means that the purchasing power of money decreased the same amount. With the food items increase in price reached up to 19% and 9% over the last year.

Compared to the USA last year inflation rate increased about 3.9%. And the consumer price index reached 210

Is this a reasonable increase?

(MENAFN Press) The data issued by the Department of Statistics indicate an increase in the Consumer Price Average during December 2007 by 1.57% compared with the previous month (November 2007) following the relative stability of prices witnessed since the end of 2006.

The Consumer Price Index (which represents the weighted average for all commodities and services in the consumer basket) reached 124.62 percentage points during December 2007 (as compared with 124.62 during November 2007).

The report shows also that the increase which took place in December 2007 (as compared with November 2007) is due to an increase in the prices of some commodities namely:" Meats and Poultry", "Diary and its products and Eggs", Rents, "Clothing and Footwear" and Vegetables. Meanwhile, prices of some commodities have retreated in December (Fruits, Communications and Personal Care).

The Annual Inflation Rate, which measures the percentage of price increase between 2007 and 2006, reached 5.39% in 2007 as compared with 2006. Meanwhile the inflation rate was 6.25%in 2006 as compared with 2005. The report shows that the registered price rise of food items by 9.3% was the main reason behind the registered increase of the inflation rate in 2007.

This increase has contributed to an increase in the inflation rate by 3.7 percentage points while the non-food items contributed to 1.6 percentage points. It is worthy to mention that prices of food items have increased at varying percentages in 2007 and reached 19.9% at the maximum for the vegetables group, and 1.1% at the minimum for the spices and food additives.

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