National Bureau of Statistics (NBS) has reported a rise in the consumer price index, (CPI) measuring inflation by 15.75 per cent (year-on-year) in December 2020.
This is 0.86 per cent points higher than the rate recorded in November 2020 (14.89) per cent.
On a month-on-month basis, the urban index rose by 1.65 per cent in December 2020, same as the rate recorded in November 2020, while the rural index also rose by 1.58 per cent in December 2020, up by 0.02 per cent above the rate that was recorded in November 2020 (1.56 per cent).
The percentage change in the average composite CPI for the twelve months period ending December 2020 over the average of the CPI for the previous twelve months period was 13.25 per cent, representing a 0.33 per cent point increase over 12.92 per cent recorded in November 2020.
The urban inflation rate increased by 16.33 per cent (year-on-year) in December 2020 from 15.47 per cent recorded in November 2020, while the rural inflation rate increased by 15.20 per cent in December 2020 from 14.33 per cent in November 2020.
On a month-on-month basis, the urban index rose by 1.65 per cent in December 2020, same as the rate recorded in November 2020, while the rural index also rose by 1.58 per cent in December 2020, up by 0.02 per cent above the rate that was recorded in November 2020 (1.56 per cent).
The composite food index on the other hand rose by 19.56 per cent in December 2020 compared to 18.30 per cent in November 2020.
The average annual rate of change of the Food sub-index for the twelve-month period ending December 2020 over the previous twelve-month average was 16.17 per cent, 0.42 per cent points from the average annual rate of change recorded in November 2020 (15.75) per cent.
This rise in the food index was caused by increases in prices of Bread and cereals, Potatoes, yam and other tubers, Meat, Fruits, Vegetable, Fish and Oils and fats.
On a month-on-month basis, the food sub-index increased by 2.05 per cent in December 2020, up by 0.01 per cent points from 2.04 per cent recorded in November 2020.
The average annual rate of change of the Food sub-index for the twelve-month period ending December 2020 over the previous twelve-month average was 16.17 per cent, 0.42 per cent points from the average annual rate of change recorded in November 2020 (15.75) per cent.
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