THE Consumer Price Index (CPI) which measures the rate at which goods and services increased otherwise known as inflation increased by 16.10 percent (year-on-year) in June 2017.
This was 0.15 percent points lower the rate recorded in May (16.25 percent). Accordingly, this represents the fifth consecutive decline in the rate of inflation since January 2017.
A report from National Bureau of Statistics (NBS) stated that on a month-on-month basis, the Headline index increased by 1.58 percent in June 2017, 0.30 percent points lower than the rate of 1.88 percent recorded in May 2017. Month on Month inflation has cumulatively risen by 9.28% since January 2017.
The Food Index increased by 19.91 percent (year-on-year) in June 2017, down by 0.64 percent points from the rate recorded in May (19.27 percent) indicating continued pressure in food prices.
Price movements recorded by All Items less farm produce or Core sub-index rose by 12.50 percent (year-on-year) in June, down by 0.50 percent points from rate recorded in May (13.00) percent. This represents the 8th straight month of decline in the core index since November 2016.
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