Inflation slows to 11.22% in June ― NBS

National Bureau of Statistics (NBS) this morning reported that the rate of inflation slowed to 11.22 per cent in June 2019 when compared with the corresponding period of 2019.

The agency said 11.22 per cent increase was 0.18 per cent points lower than the 11.40 per cent recorded in May 2019.

On a month-on-month basis, the headline index increased by 1.07 per cent in June 2019, this is 0.04 per cent rate lower than the rate recorded in May 2019 (1.11) per cent.

The percentage change in the average composite CPI for the twelve months period ending June 2019 over the average of the CPI for the previous twelve months period was 11.29 per cent, similar to the 11.29 per cent recorded in May 2019.

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The urban inflation rate increased by 11.61percent (year-on-year) in June 2019 from 11.76 per cent recorded in May 2019, while the rural inflation rate increased by 10.87 per cent in June 2019 from 11.08 per cent in May 2019.

On a month-on-month basis, the urban index rose by 1.10 per cent in June 2019, up by 0.05 from 1.15 per cent recorded in May 2019, while the rural index also rose by 1.05 per cent in June 2019, up by 0.02 from the rate recorded in May 2019 (1.07) per cent.

The composite food index stood at 13.56 per cent in June 2019 compared to 13.79 per cent in May 2019.

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

On a month-on-month basis, the food sub-index increased by 1.36 per cent in June 2019, down by 0.05 per cent points from 1.41 per cent recorded in May 2019.