Post: Inflation rate up to 7.3% in June 2024 (INS)

Tunisia's inflation rate witnessed a slight increase, reaching 7.3% in June 2024, up from 7.2% in May 2024. This rise is primarily driven by the accelerated pace of food and beverage price hikes, according to the National Institute of Statistics.The Consumer Price Index (CPI), as reported by the institute on Sunday, also rose by 0.5% in June 2024. This increase was influenced by a 0.4% rise in food prices, a 1.7% rise in clothing and footwear prices, and a 0.9% rise in the prices of restaurants, cafes, and hotels.The institute detailed that, on a year-over-year basis, food prices surged by 10.2%, primarily due to a 35% increase in coffee prices, a 24.3% rise in lamb prices, a 22% rise in edible oil prices, a 16.7% increase in spice prices, and a 16% rise in beef prices.Manufactured goods prices in June 2024 saw a 6.9% year-over-year increase, driven by a 9.4% rise in clothing and footwear prices and an 8.6% increase in cleaning products prices.Service prices rose by 5.5%, mainly due to a 9.9% increase in restaurant, cafe, and hotel services.The core inflation rate for June 2024, which excludes energy and food prices, remained steady at 6.8% compared to the previous month.Free market goods prices increased by 8.1%, while regulated goods prices rose by 4.6%. The annual rate of inflation for free market food items reached 11.1%, compared to 3.8% for regulated food items.In analysing the 0.5% rise in consumer prices in June 2024 compared to May 2024, the institute highlighted the impact of price increases in the food, clothing and footwear, and restaurant, cafe, and hotel sectors.The institute explained that the food and beverages price index, which is part of the food items group, increased by 0.4% due to a 2.5% rise in lamb prices, a 0.9% increase in fresh fruit prices, and a 0.7% rise in fresh vegetable prices, counterbalanced by a 4% drop in egg prices and a 0.6% decline in poultry prices.Clothing and footwear prices, within the clothing and footwear group, rose by 1.7%, with clothing prices up b y 1.9% and footwear prices up by 1.5%.The prices of the restaurant, cafe, and hotel group also saw a 0.9% rise due to a 3.9% increase in hotel service prices and a 0.6% increase in restaurant service prices.Source: Agence Tunis Afrique Presse