Consumer prices in Brunei declined by 0.8 percent year-on-year in August 2019, the eighth straight month of drop, after a 0.5 percent fall in the prior month. Prices of food & non-alcoholic beverages fell 1.2 percent year-on-year in August, steeper than a 0.6 in July, mainly due to rice and cereals (2.8%), meat (1.1%) and fish & seafood (1.7%). Also, there were decreases in cost of transport (-3.5% vs -4.2%), housing, water, electricity, gas & other fuels(-2% vs -2%), miscellaneous goods & services (-0.7% vs 0.1%), furnishing, household equipment & routine maintenance (-1.3% vs -0.9%), and clothing & footwear (-6.2% vs -0.7%). At the same time, cost slowed a bit for both restaurants & hotels (4.6% vs 4.7%) and recreation & culture (2.6% vs 2.7%). Meanwhile, inflation was unchanged for health (at 1%). On a monthly basis, consumer prices decreased 0.3 percent in August, following a 0.5 percent rise in July. Inflation Rate in Brunei averaged 0.50 percent from 2007 until 2019, reaching an all time high of 3.59 percent in October of 2008 and a record low of -1.60 percent in December of 2016.
Inflation Rate in Brunei is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Brunei to stand at 0.50 in 12 months time. In the long-term, the Brunei Inflation Rate is projected to trend around 1.00 percent in 2020, according to our econometric models.