Key Highlights
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Inflation rate – 13.34%
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Food Inflation – 16.08%
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Core Inflation – 11.2%
The National Bureau of Statistics revealed that the Consumer Price Index (CPI) which measures inflation increased by 13.34% (year-on-year) in March 2018. This 14th consecutive disinflation since January 2017 is 0.99 percent points less than the rate recorded in February 2018 (14.33) percent.
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The Composite Food Index rose by 16.08% (year on year) in March 2018, down from the rate recorded in February (17.59%).
Core Inflation
The All Items less Farm Produce or Core inflation, which excludes the prices of volatile agricultural produce, rose by 11.2% in March 2018, down by 0.5% points from the rate recorded in February (11.7%).
Food Inflation
The Composite Food Index rose by 16.08% (year on year) in March 2018, down from the rate recorded in February (17.59%).
On a month-on-month basis, the Food sub-index increased by 0.90 percent in March 2018, up by 0.05 percent points from 0.85 percent recorded in February.
The average annual rate of change of the Food sub-index for the twelve-month period ending March 2018 over the previous twelve month average was 19.29%, 0.23% points from the average annual rate of change recorded in February (19.52%).
The rise in the food index was caused by increases in prices of Bread and cereals, Fish, Oil and fats, Vegetables, Fruits, Coffee, tea and cocoa, Meat, milk, cheese and eggs.
Urban Inflation
The Urban inflation rate eased by 13.75% (year-on-year) in March 2018 from 14.76% recorded in February, while the Rural inflation rate also eased by 12.99% in March 2018 from 13.96% in February.
On month-on-month basis, the urban index rose by 0.86 percent in March 2018, up by 0.04 from 0.82% recorded in February, while the rural index also rose by 0.82% in March 2018, up by 0.05 from 0.77% recorded in February.
The corresponding twelve month year-on-year average percentage change for the urban index is 15.87% in March 2018. This is less than 16.24 percent reported in February, while the corresponding rural inflation rate in March 2018 is 15.34% compared to 15.64% recorded in February.