Transport
The annual inflation rate for the Transport category, which accounts for 14.3 percent of the consumer basket stood at 6.5 percent during February 2024, compared to 9.9 percent recorded in February 2023. The slow increase in the annual inflation rate for this component was reflected in the subcomponents of Operation of personal transport equipment (from 14.2% to 6.6%) and Public transportation services (from 1.1% to 0.5%).
On a monthly basis, the Transport group inflation rate increased to 0.4 percent in February 2024 from -1.3
percent recorded in previous month.
This Month Analysis
Annual inflation rate recorded for Operation of personal transport equipment increased to 6.6 percent during February 2024 compared to an increase of 14.2 percent recorded in February 2023. The slow increase was mainly witnessed in the subcategories of Parking fees (from 25.7% to 5.9%); Petrol/Diesel (from 21.1% to 7.5%) and Lubrication (from 12.2% to 1.6%).
Annual inflation rate for Public transportation services stood at 0.5 percent during February 2024, compared to 1.1 percent registered in the same period of the preceding year. The slowdown in the inflation rate of this subcomponent emanates mainly from ‘Furniture removal and transport of goods’ (from 25.9% to 4.1%) and Bus transportation (from 1.9% to 0.3%).
Purchase of vehicles annual inflation rate increased to 10.5 percent in February 2024 from 5.3 percent recorded in February 2023. The increase in the annual inflation rate for this category was mainly observed in Motor cars (from 5.5% to 10.8%); Bicycles (from -0.2% to 2.1%) and Motorcycles (from 1.1% to 3.2%).