Lodging skyrockets, but seafood becomes a bargain, says CPI

TDT | Manama     

The Daily Tribune – www.newsofbahrain.com

April proved to be a costly month for tourists seeking accommodation in the Kingdom, as prices surged 11% due to high demand. Despite this, seafood lovers had reason to rejoice, with fish prices dropping 6.6%, offering a welcome respite for both residents and visitors.

However, vegetarians and fruit enthusiasts faced a less forgiving market. The Consumer Price Index (CPI) for April revealed a 4.9% increase in fruit prices, along with a 1.4% rise in vegetable prices.

The Consumer Price Index (CPI) is a current economic and social index designed to measure changes over time in the overall level of consumer prices and the services households receive, utilize or pay for consumption.

This can be achieved by measuring the cost of purchasing a specific basket of goods and services of quality as well as fixed attributes while selecting the products in the basket to represent household expenditures within one year.

Meat lovers were also hit hard, with a 4.2% increase in meat prices. Dining out became pricier, with food and beverage prices at hotels and restaurants edging up 1.4%. Additionally, oil and fat prices rose by 5.3%.

Transportation costs also climbed, with a 1.5% increase in charges.

On the brighter side, April was an excellent month for purchasing household appliances, with prices dropping by 2.9%. Similarly, telephone and telefax equipment prices fell by 4.3%.

The health services sector saw a slight decline in costs, ranging from 0.1% to 0.6%, for tobacco products, household textiles, clothing and footwear, furniture, communications, and transportation services.

Meanwhile, prices for insurance and financial services, social protection, education, travel, and tourism sectors remained steady, according to the report. Overall, while tourists faced higher accommodation costs, they found some relief in falling seafood prices, and residents benefited from lower costs on various household items and services.