Inflation up more than 3% in Jordan during first half of 2022
The inflation rates in Turkey, Egypt and other countries in the region are considerably higher.
Jordan experienced an increase in inflation during the first half of the year.
The Hashemite Kingdom’s Consumer Price Index, which measures inflation, increased 3.34% in the first six months of 2022. The index in June rose 5.17% compared to the same month last year. Fuel rose 1.26%, transportation 0.95% and rents 0.79% during that period, Jordan’s Department of Statistics said today.
Why it matters: Jordan has not had very high inflation in recent years. The annual inflation rate for consumer prices was 0.8% in 2019, 0.3% in 2020 and 1.3% in 2021, according to data from The World Bank.
Jordan’s inflation rate could finish considerably higher this year, however. The American credit ratings giant Fitch Solutions said in May that it predicts inflation to rise to 3.6% this year. The firm also predicts more social unrest in the kingdom due to high inflation and unemployment.
