Inflation Shrinks to 17.75%
The Consumer Price Index (CPI) which measures inflation – the rate of change in the increase in prices – dropped to 17.75 per cent (year-on-year) in June compared to17.93 per cent in the preceding month, the National Bureau of Statistics (NBS) stated Friday.
The NBS pointed out that the 0.18 per cent difference indicated that prices continued to rise in June but at a slightly slower increase than it did in May.
It stated that the moderation in prices were recorded in all the parameters that determine the headline index.
According to the CPI report for June which was released by the statistical agency, food inflation slowed to 21.83 per cent in June compared to 22.28 per cent in May, implying that food prices continued to rise in the review period but at a slightly slower speed compared to the previous month. More at:Thisday