NBS says inflation rate has risen to 16.47 per cent

The National Bureau of Statistics (NBS) has disclosed that inflation rate rose to 16.47 per cent in January this year.
Acccording to NBS, It was 15.75 per in December, which shows  that the rate soared by 0.72 per cent in the period under review.
NBS made this known in its data entitled: “Consumer Price Index January 2021(Base Period December 2009 -100).’’
According to the report, “The consumer price index, (CPI), which measures inflation, increased by 16.47 per cent (year-on-year) in January 2021.
“This is 0.71 per cent points higher than the rate recorded in December 2020 (15.75 per cent). Increases were recorded in all COICOP divisions that yielded the Headline index.”
Acccording to NBS, the change in the average composite CPI for the 12-month period ending January 2021 over the average of the CPI for the previous 12-month period was 13.62 per cent, representing a 0.37 percentage point increase over 13.25 per cent it recorded last December.
It added thst on month-on-month basis, the Headline index increased by 1.49 percent in January 2021.
The report indicates 0.12 percentage points lower than the rate of last December (1.61 percent).

Leave a Reply

Your email address will not be published. Required fields are marked *