Consumer prices in Brunei declined by 0.3 percent year-on-year in October of 2019, the ninth straight month of drop, after a 0.4 percent fall in the prior month. Prices of food & non-alcoholic beverages fell 0.7 percent year-on-year in October, compared to a 1 drop in September, mainly due to rice and cereals (-3.3%) and fish and seafood (-1%). Also, falls were seen in cost of both transport (-3.7% vs -3.7%) and housing, water, electricity, gas & other fuels(-1.7% vs -1%). In addition, prices slowed for both health (0.6% vs 0.9%) and recreation & culture (1.7% vs 2.5%). In contrast, cost of restaurants & hotels rose faster (5% vs 4.7%), while those of furnishing, household equipment & routine maintenance rebounded (1.2% vs -1%). On a monthly basis, consumer prices fell 0.1 percent in October, following a 0.7 percent gain in September. Inflation Rate in Brunei averaged 0.49 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.