Consumer prices in Brunei declined by 0.2 percent year-on-year in June 2019, after a 0.6 percent drop in the previous month. Starting June 2019, Department of Economic Planning and Development decided to rebased CPI series to 2015 from 2010 in order to accommodate the economic changes in the country. Under the new index, consumer prices fell by 0.7 percent year-on-year in June 2019, after a 1.1 percent drop in a month earlier. Using a new base index of 2012, prices of food and non-alcoholic beverages decreased by 0.5 percent year-on-year, while those of non-food declined 0.7 percent. On a monthly basis, consumer prices edged up 0.01 percent in June. Inflation Rate in Brunei averaged 0.53 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 -0.50 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 0.40 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.