Inflation edges higher in June, measure 8.2%
The Consumer Price Index (CPI), which measures inflation edged higher in June, measuring 8.2 percent from the previous month which measured 8.0 percent, the National Bureau of Statistics (NBS) said.
NBS report released yesterday stated that the 0.2 percent increase was the fourth consecutive month of year-on year increases in the headline index since the pace of price increases eased in February.
“The price increases recorded in June’s Headline index were as a result of an increase all divisions that contribute to the index. Price increases were also recorded in the Food and Core subindices,” the Statistics Bureau stated.
Food index, the biggest contributor to the CPI, edged marginally higher to 9.8 percent from 9.7 percent in June while prices were pushed higher as a result of higher prices in the bread and cereals, meats, fish, and dairy groups.
“The price increases in the food subindex were, however, weighed down by relatively slower increases in the oils and fats, fruits and vegetable groups.”
Prices measured by the “All items less farm produce” or core sub-index increased at a faster rate in June as prices rose by 8.1 percent (year-on-year), 0.4 percentage points higher from the rate recorded in May and surpassing the previous high for the year recorded in May.
The report also stated that urban prices increased at a faster rate for the second consecutive month in June to 8.4 percent, up 0.2 percentage points from May, while rural prices also increased by 0.2 percentage prices in the urban areas moved at the same pace in June as in May, moving by 0.8 percentage points.