Inflation worsens, rises by 11.24% in September - NBS

Inflation rate has worsened, rising to 11.24 per cent in September from the 11.02 per cent recorded in August, 2019.

The inflation report released yesterday by the National Bureau of Statistics (NBS) showed that the latest inflation rate is 0.22 percent points higher than the rate recorded in August 2019.

The report showed that the urban inflation rate increased by 11.78 percent (year-on-year) in September 2019 from 11.48 percent recorded in August 2019, while the rural inflation rate increased by 10.77 percent in September 2019 from 10.61 percent in August 2019.

However, the composite food index rose by 13.51 percent in September 2019 compared to 13.17 percent in August 2019.

“This rise in the food index was caused by increases in prices of Bread and cereals, Oils and fats, Meat, Potatoes, Yam and other tubers, Fish and Vegetables,” the report stated.

On month-on-month basis, the food sub-index increased by 1.30 percent in September 2019, up by 0.08 percent points from 1.22 percent recorded in August 2019.

The average annual rate of change of the Food sub-index for the twelvemonth period ending September 2019 over the previous twelve-month average was 13.47 percent, 0.01 percent points from the average annual rate of change recorded in August 2019 (13.46) percent.

The Core inflation, which excludes the prices of volatile agricultural produce stood at 8.94 percent in September 2019, up by 0.26 percent when compared with 8.68 percent recorded in August 2019.

On month-on-month basis, the core sub-index increased by 0.89 percent in September 2019.