Consumer prices in Brunei declined by 0.6 percent year-on-year in May 2019, much faster than a 0.1 percent drop in the previous month. This was the fifth straight month of fall in consumer prices, amid further declines in cost of food & non-alcoholic beverages (-0.7 percent vs -0.6 percent in April); housing, water, electricity, gas & other fuels (-2.7 pct vs the same as percent in a month earlier); transport (-0.2 percent vs 1.2 percent); furnishing, household equipment & routine maintenance (-1.2 pct vs -0.6 percent); and clothing & footwear (-6.1 percent vs -2.9 percent). In contrast, recreation & culture inflation was unchanged (at 2 percent). On a monthly basis, consumer prices dropped 0.3 percent in May, after a 0.6 percent decrease in April. 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 -0.20 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.