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Consumer Price Index continues its decline for the second month

RAMALLAH, The overall Consumer Price Index (CPI) for Palestine continued its decline for the second month, as a result of the decrease in the prices of some basic commodities in food and fuel prices, said the Palestinian Bureau of Statistics (PCBS) in a report.

It said the overall CPI for Palestine during May 2020 decreased by 0.91% compared with April 2020. The CPI also decreased during May 2020 by 1.96% compared with May 2019.

Because of the COVID-19 outbreak and the measures taken to its spread, the PCBS said the data collection process for Consumer Price Index were replaced by data collection via phone and websites for all sale outlets in all of the Palestinian Governorates instead of collecting data face to face from the field.

The PCBS said in light of the temporary closure of many outlets in the first half of May due to the Palestinian emergency plan, international recommendations were followed in estimating the missing data, including the Group Relative Method which is the process of estimating the prices based on the change in the prices of the remaining sources for the same category. 

Source: Palestinian News & Info Agency