Prices Of Goods Lower In December
By Khairunnisa Ibrahim

Bandar Seri Begawan - End of year and new school term sales pushed prices down in December last year, according to the latest Consumer Price Index (CPI) report by the Department of Economic Planning and Development.

The CPI - a summary measure of price changes over time - in December fell 0.4 per cent from the previous month and 0.7 per cent from the same month in 2005. The decrease was partially due to the year-end and back-to school sales which started from December 1 last year to January 1, 2007, the report stated Clothing, and footwear items received the most discounts in the sales, with prices of clothing, accessories, materials and footwear falling by 7.7 per cent from the previous month.

These goods carry little weight in the CPI, however, as they are among the bottom three of the 10 categories of most purchased items and services.'

Prices of household goods and services were also lower by 1.7 per cent. The cost of personal care effects and goods, as well as recreation and entertainment were also lower, both falling by 0.3 per cent.

In the case of recreation and entertainment, the report attributed the decline to lower prices of certain holiday packages. However, a representative from the travel industry refuted this.

"December is always peak season, that is the time when (foreign workers) return to their countries, children are having their school holidays and people receive more money because of end of year bonuses," she said, adding that as a result, holiday packages and tours become pricier than in other months.

The prices of communications instruments and accessories were also lower, causing communication prices to fall by 0.1 per cent. The products that received discounts included hand phone accessories, said an employee at the WYWY Enterprise, which sells communication equipment and accessories.

Not all costs of products and services were lower, however. Other products and services saw an increase in prices. Cost of transport, which carries a significant weight in the CPI, saw a 0.7 per cent increase, representing the second most purchased products among local.-- Courtesy of The Brunei Times

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