Inflation now 18.3% —NBS

Inflation, otherwise referred to consumer price index (CPI) continued its unrelenting upward movement as it increased by 18.3 per cent (year-on-year) in October 2016, 0.48 per cent points higher from the rate recorded in September (17.9 per cent).

Increases according to National Bureau of Statistics (NBS) were recorded across almost all major divisions, which contribute to the Headline Index.

Communication and Restaurants and Hotels recorded the slowest pace of growth in October, growing at 5.7 per cent and 9.4 per cent year-on-year respectively.

The Food Index rose by 17.1 per cent (year-on-year) in October, up by 0.47 per cent points from 16.6 per cent recorded in September. During the month, all major food groups which contribute to the Food sub-index increased with Fruits recording the slowest pace of increase at 11.5 per cent.

Price movements recorded by the All Items less farm produce or Core sub-index rose by 18.1 per cent (year-on-year) in October, up by 0.4 per cent points from rates recorded in September (17.7 per cent). During the month, the highest increases were seen in Housing, Water, Electricity, Gas and Other Fuels as well as, fuels and lubricants for personal transport equipment and Education.

Significant price movement under the Core Sub-index was also recorded for Clothing and Footwear, which recorded as increase of 17.8 per cent year on year. The groups with least growth pace recorded in October were Communication (5.7 percent), Restaurants and Hotels (9.4 per cent) and Recreation and Culture (10.3 per cent).

NBS explained Headline Index “is made up of the Core Index and Farm Produce items. As. Processed Foods are included in both the Core and Food sub-indices; this Implies that these sub-indices are not mutually-exclusive.”

On a month-on-month basis, the Headline index rose by 0.83 percent in October, higher from the rate recorded in September (0.81 per cent).

The Urban index rose by 19.9 per cent (year-on-year) in October from 19.5 per cent recorded in September, and the rural  index increased by 16.95 per cent in October from 16.4 per cent in September.

On month-on-month basis, the Urban index rose by 0.81 per cent in October from 0.79 per cent recorded in September, while the Rural index rose by 0.84 per cent in October from 0.83 per cent in September.

The percentage change in the average composite CPI for the twelve-month period ending in October 2016 over the average of the CPI for the previous twelve-month period was 14.2 per cent, higher from 13.5 per cent recorded in September. The corresponding twelve-month year-on-year average percentage change for the urban index increased from 14.4 per cent in September to 15.3 per cent in October, while the corresponding rural index also increased from 12.6 per cent in September to 13.3 percent in October.

The Composite Food Index rose by 17.1 per cent in October 2016. The rise in the index was caused by increase in prices of Bread and Cereal, Fish, and Meat.

On a month-on-month basis, the Food sub-index increase by 0.86 per cent in October from 0.81 per cent recorded in September. The average annual rate of change of the Food sub-index for the twelve-month period ending in October 2016 over the previous twelve-month average was 13.82 per cent, 0.58 per cent points from the average annual rate of change recorded in September (13.24 per cent).

The ‘’All Items Less Farm Produce” or Core sub-index, which excludes the prices of volatile agricultural produce increased by 18.1 per cent during the month, 0.4 per cent points from 17.7 per cent recorded in September as all key divisions which contributes to the index increased.

On a month-on-month basis, the Core sub-index rose by 0.75 per cent in October, down by 0.21 per cent points from 0.96 per cent recorded in September. The highest increases were seen in Housing, Water, Electricity, Gas and Other Fuels as well as, fuels and lubricants for personal transport equipment and Education. The average 12-month annual rate of rise of the index was recorded at 13.76 per cent for the twelve-month period ending in October 2016, 0.78 per cent points higher from the twelve-month rate of change recorded in September

The Consumer Price Index (CPI) which measures inflation increased by 18.3 percent (year-on-year) in October 2016, 0.48 per cent points higher from the rate recorded in September (17.9 per cent). Increases were recorded across almost all major divisions which contribute to the Headline Index. Communication and Restaurants and Hotels recorded the slowest pace of growth in October, growing at 5.7 per cent and 9.4 per cent year-on-year respectively.

The Food Index rose by 17.1 per cent (year-on-year) in October, up by 0.47 per cent points from 16.6 per cent recorded in September. During the month, all major food groups which contribute to the Food sub-index increased with Fruits recording the slowest pace of increase at 11.5 per cent.

Price movements recorded by the All Items less farm produce or Core sub-index rose by 18.1 per cent (year-on-year) in October, up by 0.4 per cent points from rates recorded in September (17.7 per cent). During the month, the highest increases were seen in Housing, Water, Electricity, Gas and Other Fuels as well as, fuels and lubricants for personal transport equipment and Education.

Significant price movement under the Core Sub-index was also recorded for Clothing and Footwear, which recorded as increase of 17.8 per cent year on year. The groups with least growth pace recorded in October were Communication (5.7 per cent), Restaurants and Hotels (9.4 per cent) and Recreation and Culture (10.3 per cent).

It should be noted that the Headline Index is made up of the Core Index and Farm Produce items. As. Processed Foods are included in both the Core and Food sub-indices; this Implies that these sub-indices are not mutually-exclusive.

On a month-on-month basis, the Headline index rose by 0.83 per cent in October, higher from the rate recorded in September (0.81 per cent).

The Urban index rose by 19.9 per cent (year-on-year) in October from 19.5 per cent recorded in September, and the Rural index increased by 16.95 per cent in October from 16.4 per cent in September.

On month-on-month basis, the Urban index rose by 0.81 per cent in October from 0.79 per cent recorded in September, while the Rural index rose by 0.84 per cent in October from 0.83 per cent in September.

The percentage change in the average composite CPI for the twelve-month period ending in October 2016 over the average of the CPI for the previous twelve-month period was 14.2 per cent, higher from 13.5 per cent recorded in September. The corresponding twelve-month year-on-year average percentage change for the urban index increased from 14.4 per cent in September to 15.3 per cent in October, while the corresponding rural index also increased from 12.6 per cent in September to 13.3 per cent in October.

The Composite Food Index rose by 17.1 per cent in October 2016. The rise in the index was caused by increase in prices of Bread and Cereal, Fish, and Meat.

On a month-on-month basis, the Food sub-index increase by 0.86 percent in October from 0.81 per cent recorded in September. The average annual rate of change of the Food sub-index for the twelve-month period ending in October 2016 over the previous twelve-month average was 13.82 per cent, 0.58 per cent points from the average annual rate of change recorded in September (13.24 per cent).

The ‘’All Items Less Farm Produce” or Core sub-index, which excludes the prices of volatile agricultural produce increased by 18.1 per cent during the month, 0.4 percent points from 17.7 percent recorded in September as all key divisions which contributes to the index increased.

On a month-on-month basis, the Core sub-index rose by 0.75 per cent in October, down by 0.21 percent points from 0.96 per cent recorded in September. The highest increases were seen in Housing, Water, Electricity, Gas and Other Fuels as well as, fuels and lubricants for personal transport equipment and Education. The average 12-month annual rate of rise of the index was recorded at 13.76 per cent for the twelve-month period ending in October 2016, 0.78 per cent points higher from the twelve-month rate of change recorded in September.