News Column

Jordan's CPI inflation ticks up to 3.4% y/y in January 2014

February 12, 2014

Jordan's CPI inflation edged up to 3.4% y/y in January from 3.3% the month before on higher rents, vegetables and clothing and footwear prices, the statistic office DoS said on Feb 11. The reading bodes well with the central bank's recent decision to cut key interest rates by 25bps to further boost economic growth and stimulate private sector credit expansion amid moderate inflation.

In 2013, Jordan's CPI inflation averaged 5.6%, undershooting the IMF's initial forecast of 5.9% full-year price growth. In monthly terms, Jordan's CPI inflation ticked up 0.1% m/m in January, easing from 0.8% growth in December.

Fresh vegetable charges jumped 21.6% y/y in January, cooling from 31.5% growth a month earlier due to a 3.6% m/m contraction. Rent costs rose 7.7% y/y and those of transport grew 3.3% in January.

Clothing and footwear prices increased 7.3% y/y, edging up from 7.2% in December.

Personal hygiene charges dropped 5.5% y/y and those of meat and poultry fell 2.1% in January. 

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Source: IntelliNews - Weekly Reports

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