Inflation Moves to 18.3 Percent In October 2016

0
228

The National Bureau of Statistics (NBS) has released the inflation rate for the month of October 2016. The Headline CPI rose by 18.3 percent year-on-year from 17.9 percent in September. The CPI numbers showed another deceleration in the month-on-month inflation rate to 0.4 percent from 0.8 percent in September.

For the key sub-components, Food inflation increased to 17.1 percent, from 16.6 percent in September, with the pace of month / month increase accelerating by 47bps to 0.9 percent from September.

Core inflation also rose to 18.1 percent year on year from 17.7 percent in September, although the pace of m/m increase in the core index was down by 21bps edging lower to 0.8 percent from 1.0 percent in September.

According to the NBS, increases were recorded in all the divisions which contribute to the Headline index, mostly reflective of higher prices across board.

For Food index, rate of price increases in all major food group contributed to the increase seen, with Bread and Cereals, Fish and Meat resuming the role of key drivers, while Fruits recorded the slowest pace of increase. Energy and energy related prices continue to be the largest increases reflected in the Core sub-index.

- Advertisement -First Bank mobile money