The National Bureau of Statistics has released its September Consumer Price Index revealing that Inflation rate for the month was 17.9% compared to 17.7% In August.
The NBS attributed the rise to a higher increase in the prices of fashion related items as well as electricity prices. However, the rate of increases moderated for the second month running indicative of a slowdown in the rise of across board.
Here is an excerpt of the report:
In September, the Consumer Price Index (CPI) which measures inflation increased by 17.9 percent (year-on-year), 0.24 percentage points higher than the rate recorded in August 2016 (17.6 percent).
Increases were recorded all COICOP divisions which contribute to the Headline Index. Communication and Restaurants and Hotels recorded the lowest rates of increase of the 12 divisions, growing by 5.6 percent and 9.6 percent respectively.The Food Sub Index increased by 16.6 percent (year-on-year) in September, up by 0.19 percent points from rate recorded in August (16.4 percent). A number of groups within the food index recorded falls in the rate of price increases, including Fish, which had previously been a key driver, as well as Oils and Fats, and Fruits.
Price movements recorded by the All Items less farm produce or Core sub-index increased by 17.7 percent (year-on-year) in September, up by 0.5 percent points from rates recorded in August (17.2 percent). During the month, the highest increases were seen in Clothing materials, other articles of clothing and clothing accessories, Garments, Shoes and other footwear, Books and stationeries, Jewelry, clocks and watches, and Motorcycles.
Energy and energy related prices continue to be the largest increases reflected in the Core sub-index. In September, the Core sub-index increased by 17.7% during the month, up by 0.5% points from rates recorded in August (17.2%). During the month, the highest increases were seen in the Electricity, Liquid Fuel (kerosene),
Solid Fuels, and Fuels and Lubricants for Personal Transport Equipment groups.
