Inflation drops by 0.14 to 11.08% in July

The Consumer Price Index (CPI) which measures inflation, increased to 11.08 percent (year-on-year) in July 2019, according to data released by the National Bureau of Statistics (NBS)

The data released on Friday shows that the rate drops 0.14 percent points lower than the rate recorded in June 2019 (11.22 percent).

Increases were recorded in all Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the Headline index.

On month-on-month basis, the Headline index increased by 1.01 percent in July 2019. This is 0.06 percent rate lower than the rate recorded in June 2019 (1.07) percent.

The percentage change in the average composite CPI for the twelve months period ending July 2019 over the average of the CPI for the previous twelve months period was 11.29 percent, compared to 11.29 percent recorded in June 2019.

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The report stated, “the urban inflation rate increased by 11.43 percent (year-on-year) in July 2019 from 11.61 percent recorded in June 2019, while the rural inflation rate increased by 10.64 percent in July 2019 from 10.87 percent in June 2019.

“On a month-on-month basis, the urban index rose by 1.07 percent in July 2019, down by 0.03 from 1.10 percent recorded in June 2019, while the rural index also rose by 0.96 percent in July 2019, down by 0.09 from the rate recorded in June 2019 (1.05) percent.

“The corresponding twelve-month year-on-year average percentage change for the urban index is 11.64 percent in July 2019. This is less than 11.65 percent reported in June 2019, while the corresponding rural inflation rate in July 2019 is 10.97 percent compared to 10.99 percent recorded in June 2019.”

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