Tunisia’s annual inflation rate fell to 5.1% in July 2026, down from 5.3% in June. The deceleration marks the lowest consumer price growth recorded in the country since March.
According to figures from Tunisia’s National Institute of Statistics, the moderation reflected slower price increases across essential consumer categories. Food and non-alcoholic beverage inflation slowed to 6.6% from 7.1% in June.
Additional relief came from transport and healthcare costs. Transportation inflation eased to 2.0% in July compared to 2.4% the previous month, while health price growth moderated to 2.7% from 2.9%.
Core inflation, excluding volatile food and energy prices, edged down to 4.8% from 4.9%. On a monthly basis, the Consumer Price Index rose 0.2%, matching the pace set in June.
The cooling trend aligns with recent monetary policy decisions. The Central Bank of Tunisia held its key interest rate at 7.0% in late July, maintaining a tight stance despite easing consumer prices.
Policymakers remain cautious due to persistent upside risks, including high energy import costs and foreign exchange pressures. Consequently, interest rate cuts are unlikely until underlying disinflation firmly stabilizes.
