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THE Consumer Price Index
(CPI) which measures the rate at which goods and services increased otherwise
known as inflation increased by 16.10 percent (year-on-year) in June 2017.
This was 0.15 percent
points lower the rate recorded in May (16.25 percent). Accordingly, this
represents the fifth consecutive decline in the rate of inflation since January
2017.
A report from National
Bureau of Statistics (NBS) stated that on a month-on-month basis, the Headline
index increased by 1.58 percent in June 2017, 0.30 percent points lower than
the rate of 1.88 percent recorded in May 2017.
Month on Month inflation has cumulatively risen by 9.28% since January
2017.
The Food Index increased
by 19.91 percent (year-on-year) in June 2017, down by 0.64 percent points from
the rate recorded in May (19.27 percent) indicating continued pressure in food
prices.
Price movements recorded
by All Items less farm produce or Core sub-index rose by 12.50 percent
(year-on-year) in June, down by 0.50 percent points from rate recorded in May
(13.00) percent. This represents the 8th straight month of decline in the core
index since November 2016.
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