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NBS: Rise in food prices push inflation to 11.61%
#1
NBS: Rise in food prices push inflation to 11.61%

Published
 
[Image: NBS-building.png]
…highest in 17 months

 
Increase in prices was recorded across all divisions of foods in month of October, Consumer Price Index (CPI) released yesterday by National Bureau of Statistics (NBS) revealed.

The CPI rose to 11.61 per cent (year-on-year) in October 2019, higher than September figure of 11.24 per cent, representing 0.36 percentage points higher than previous figure.

This was the exact inflation rate recorded in May 2018 when the country was recovering from the recession and high inflation rate.
On month-on-month basis, the headline index increased by 1.07 per cent in October 2019, or 0.03 percentage points higher than the rate recorded in September 2019 (1.04 per cent).
The percentage change in the average composite CPI for the 12-month period ending October 2019 over the average of the CPI for the previous 12-month period was 11.30 per cent, showing 0.03 percentage point increase from 11.27 per cent recorded in September 2019.

The urban inflation rate stood at 12.20 per cent (year-on-year) in October 2019 from 11.78 per cent recorded in September, while the rural inflation rate was recorded at 11.07 per cent in October from 10.77 per cent in September.
“On a month-on-month basis, the urban index rose by 1.15 per cent in October 2019, up by 0.02 percentage points from 1.13 per cent recorded in September 2019, while the rural index rose by 0.99 per cent in October 2019, up by 0.03 percentage points from the rate recorded in September 2019 (0.96 per cent),” NBS stated.
The corresponding 12-month year-on-year average percentage change for the urban index was 11.68 per cent in October 2019. This is higher than 11.63 per cent reported in September 2019, while the corresponding rural inflation rate in October was 10.95 percent compared to 10.94 per cent recorded in September 2019.

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