Inflation in Jordan continues to grow
The consumer price index (CPI) [in Jordan], used as a measuremen tool of inflation, increased by 4.8 per cent in 2012 compared with an increase by 4.4 in 2011, according to report issued by the Department of Statistics (DoS) on Monday.
In its report, the DoS indicated that the rise was due to higher transport charges (9 per cent), rentals (3.6 per cent), meat and poultry prices (6.4 per cent), yoghurt, other dairy products and table eggs (13 per cent) and fuel and lighting charges (4.1 per cent).
The increase was coupled with a drop in the prices of cereal products by 1.3 per cent and telecommunications by 0.1 per cent.
The CPI is a statistical estimate computed using the prices of a sample of representative items whose prices are collected periodically and the annual percentage change in a CPI is used as a measure of inflation.
In related news, the Income and Sales Tax Department on Monday said its revenues rose by 9.6 per cent in 2012 to JD3.03 billion compared with JD2.76 billion in 2011.
The department’s Director General Riyad Shraideh said the collected revenues were slightly lower than the amount envisaged in the budget but, however, were higher than the JD2.98 billion estimated by the department.
Computed separately, the sales tax revenues went up to JD2.31 billion in 2012 from JD2.07 billion in the previous year whereas the income tax rose to JD713 million from JD685.5 million, Shraideh pointed out.
Shraideh attributed the increase to improvements in the economy and an increase in tax-collection efficiency.
Taxes represent a large portion of the local revenues, besides custom revenues and those generated from real estate registration.
The department’s revenues are expected to continue to go up after the department has become more active in eliminating tax evasion, Shraideh said.