The Bhutanese Leading the way.
In January 2024, Bhutan witnessed a year-on-year increase in its Consumer Price Index (CPI) by 4.32 percent, compared to the same period in the previous year, according to data released by the National Statistics Bureau (NSB). Food prices drive upward trend while certain sectors experience decline.
NSB reported that the surge was primarily driven by a notable increase in the food index, which rose by 5.83 percent. This increase was particularly significant in food and non-alcoholic beverages, marking a 6.05 percent rise, while alcoholic beverages and betel nuts also saw a notable uptick of 2.90 percent.
However, the non-food index also experienced an increase, albeit at a lower rate of 3.06 percent. Notably, the transport and communication sectors saw a decline in their indices, with transport registering a decrease of 1.69 percent and communication declining by 7.59 percent.
Month-on-month, there was a slight decrease of 0.08 percent in the CPI from December 2023. While food prices continued to rise, increasing by 0.3 percent, the non-food index saw a decline of 0.4 percent. The index for transport decreased by 0.52 percent over the month.
NSB highlighted that except for transport and communication, all major divisions witnessed an increase in their indices. Notably, there were decreases in the indices of furnishings, household equipment, routine household maintenance, communication, recreation, and culture, as well as restaurants and hotels.
Notably, the health sector recorded the highest increase in inflation 2023, with 12.47 percent while transport saw a significant decrease in its index by 11.74 percent from 2022 to 2023.
