Need to curb inflation
The annual inflation rate for November 2015 that is from November 2014 to November 2015 has s rose by 3.59 percent. This was 0.03 percentage point higher than the previous month which was 3.56 percent during the year October last year.
According to the monthly consumer price index bulletin November 2015 which was complied by National Statistics Bureau stated that during the month of November last year, the prices for food has risen by 2.64 percent and non- food prices by 4.23 percent.
The report also found out that for some food items the inflation rates has decreased. For dairy and poultry products like milk, cheese and eggs, the inflation rates for the month of October last year was 5.33 percent and was decreased to 2.43 percent in the month of November last year.
But for the non food groups, the highest percent change was with electricity, gas and other fuels. It has increased from 5.95 percent in the month of October to 7.21 percent in the month of November last year and followed by tools and equipment for house and garden. During the month of October last year was 2.98 percent and was increased to 3.66 percent during the month of November last year.
It also remained constant for the purchase of vehicles that was 5.83 percent in October and same for the month of November last year with 5.83 percent.
Besides that, the inflation rates for the telephone and telefax equipment was negative 1.38 percent during the month of October and remained same with negative 1.38 percent during the month of November last year.
While the prices of domestic goods and services have increased by 4.60 percent due to increase in food prices by 3.19 percent and non- food prices by 5.42 percent.
The prices of imported goods have increased by 2.69 percent because of the increase in food prices by 2.26 percent and non- food prices by 3.04 percent.
Meanwhile, the prices are collected online from the sampled outlets by price collectors using mobile application devices once every month.
As per the report the highest inflation is in catering services with almost with 10% and electricity , gas and other fuels with about 7.50% and clothing with about 6% on the non food items. A alarming increase in the prices has also been seen on restaurants and hotels with 9% and on education with 6.71%.
The fish and vegetables and coffee, tea and cocoa recorded the highest inflation during the period for the food items of about 6.30% for fish and 5.35% for the vegetables and 5.31% for tea, coffee and cocoa
As most of the food items affect the purchasing power of the poor, measures must be put in place o curb the inflation especially on the food products.