Inflation Rises by 1.7% in First Seven Months of 2024

Amman: Jordan's General Consumer Price Index, a key measure of inflation, increased by 1.7% in the first seven months of 2024, reaching 110.45 points compared to 108.6 points in the same period of 2023, according to the latest report from the Department of Statistics released on Sunday. The report highlighted that the most significant contributors to this rise in inflation were the personal luggage category, which saw an 8.88% increase, followed by water and sanitation at 7.34%, union contributions at 5.86%, rents at 3.97%, and vegetables, dried and canned legumes at 3.96%. For July 2024 alone, the consumer price index reached 111 points, marking a 1.92% increase compared to 108.91 points in July 2023. Key drivers of this monthly inflation were personal luggage, up by 11.81%, dried and canned vegetables and legumes by 9.88%, water and sanitation by 7.34%, fruits and nuts by 7.18%, and union contributions by 5.86%. However, declines in oils and fats by 2.08%, furniture, carpets, and bedding by 1.69%, clothin g by 1.58%, and home textiles by 1.36% helped moderate the overall increase. On a month-to-month basis, the index for July 2024 edged up by 0.24%, reaching 111 points compared to 110.74 points in June of the same year. The most notable contributors to this monthly rise were vegetables, dried and canned legumes at 9.39%, personal belongings at 1.33%, fruits and nuts at 1.25%, spices, food enhancers, and other foods at 0.69%, and the culture and entertainment category at 0.58%. Source: Jordan News Agency