The Census and Statistics Department yesterday released the Consumer Price Index (CPI) figures for August 2004 which show overall consumer prices rose by 0.8% compared to August 2003, further evidence that the economy is emerging from a long period of deflation.
Wednesday’s figure compares to a rise of 0.9% the previous month on July 2003.
According to the government of the SAR, the smaller year-on-year increase in the Composite CPI in August 2004 was mainly attributable to moderated increases in the charges for package tours, in inbound and outbound transport fares, and in the prices of fresh vegetables and poultry.
Amongst the various CPI components, year-on-year increases in prices were recorded in August 2004 for electricity, gas and water (12.2% in the Composite CPI), clothing and footwear (7.0%), miscellaneous goods (4.0%), food (excluding meals bought away from home) (2.8%) and miscellaneous services (1.1%).
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