Food inflation rose by 15.8% in June ― NBS

National Bureau of Statistics (NBS) on Friday reported that Food index, however, rose by 15.18 per cent in June 2020 compared to 15.04 per cent in May 2020.

General inflation, however, increased by 12.56 per cent in June 2020 when compared to the same period in 2019.

This rise in the food index was caused by increases in prices of Bread and Cereals, Potatoes, yam and other tubers, Fruits, Oils and Fats, Meat, Fish and Vegetables.

On a month-on-month basis, the food sub-index increased by 1.48 per cent in June 2020, up by 0.06 per cent points from 1.42 per cent recorded in May 2020.

The average annual rate of change of the Food sub-index for the twelve-month period ending June 2020 over the previous twelve-month average was 14.46 per cent, representing a 0.13 per cent points increase from the average annual rate of change recorded in May 2020 (14.33 per cent).

According to the agency, when compared with the previous month of May 2020 however, an increase in general inflation was 0.16 per cent which was 12.40 per cent.

On a month-on-month basis, the Headline index increased by 1.21 per cent in June 2020 or 0.04 per cent rate higher than the rate recorded in May 2020, which was 1.17 per cent.

NBS noted that urban inflation rate increased by 13.18 per cent (year-on-year) in June 2020 from 13.03 per cent recorded in May 2020, while the rural inflation rate increased by 11.99 per cent in June 2020 from 11.83 per cent in May 2020.

The “All items less farm produce” or Core inflation, which excludes the prices of volatile agricultural produce stood at 10.13 per cent in June 2020, up by 0.01percent when compared with 10.12 per cent recorded in May 2020.
On a month-on-month basis, the core sub-index increased by 0.86 per cent in June 2020. This was down by 0.02 per cent when compared with 0.88 per cent recorded in May 2020.

The highest increases were recorded in prices of Medical services, Hospital services, Passenger transport by road, Pharmaceutical products, Motor cars, Paramedical Services, Maintenance and repair of personal transport equipment, Bicycles, Motorcycles, Vehicle spare parts and Other services in respect of personal transport equipment.

The average 12-month annual rate of change of the index was 9.37 per cent for the twelve-month period ending June 2020; this is 0.1 per cent points higher than 9.27 per cent recorded in May 2020.

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