Again, inflation takes a hit, drops in April – NBS report
The NBS in its new report put inflation rate at 17.24 percent, showing a little decline from the 17.26 percent recorded in March .
This represents the third consecutive month of a decline in the headline CPI rate, indicating some easing in high food and non-food prices.
According to the report, the top items to have recorded the highest increases between April 2016 and 2017 across all the divisions were Solid Fuels, Bread and Cereals, Meat, Liquid Fuels, Clothing materials, other articles of clothing and clothing accessories, and Fish.
Between March and April 2017, however, the headline index increased by 1.60 per cent in April 2017, 0.12 per cent points lower than the rate recorded in March.
Similarly, between March and April 2017, the highest rise in prices were dominated by food items including coffee, tea and cocoa, potatoes, yam and tubers, bread and cereals, milk cheese and eggs and meat and fish.
The headline index, the report noted, is made up of the core index and farm produce items.
Similarly, the urban index rose by 1.61 per cent in April from 1.76 percent recorded in March, while the rural index rose by 1.59 percent in April from 1.69 percent in March.
The Composite Food Index rose by 19.30 per cent in April 2017.
Meanwhile, the food sub-index increased by 2.04 per cent in April, down by 0.17 per cent points from 2.21 per cent recorded in March.
The rise in the index was caused by increases in prices of bread, cereals, meat, fish, potatoes, yams and other tubers, coffee, tea and cocoa, milk cheese and eggs and oils and fats.
The average annual rate of change of the Food sub-index for the twelve-month period ending in April 2017 over the previous twelve-month average was 17.11 percent, 0.51 percent points from the average annual rate of change recorded in March (16.60) percent.