Headline inflation indices continue to drop for the sixth consecutive time, the National Bureau of Statistics (NBS) has said in its July report released Monday.
It reduced to 16.05 percent (year-on-year) in July 2017, compared to 16.10 percent in June 2016. “This makes it the sixth consecutive decline in the rate of headline year on year inflation since January 2017,” NBS said.
The bad news, however, is that in the food sector where it matters most, as hardship continues to bite harder, the figures are discouraging.
Said NBS: “Food price pressure however continued into July with 20.28 percent (year-on-year) from 19.91 percent. This represents the highest year on year increase in food inflation since the beginning of the new series in 2009.
“On a month-on-month basis, however, the Food sub-index increased by 1.52 percent in July, down by 0.47 percent points from 1.99 percent recorded in June.”
Meantime, on a month-on-month basis, the Headline index increased by 1.21 percent in July 2017, 0.37 percent points lower from the rate of 1.58 percent recorded in June.
The good news remains on Core inflation though it does not include the prices of volatile agricultural produce. It eased by 0.30 percent in July to 12.20 percent points from 12.50 percent recorded in June. Core inflation similar to overall/headline inflation has declined consecutively since January 2017.
On a month-on-month basis, the Core sub-index increased by 1.00 percent in July, 0.32 percent points lower from 1.32 percent recorded in June.
Details of the Consumer Price Index can be found at: https://drive.google.com/file/d/0B6jj-ulM0cLrUG5FbXBtOTNRU00/view