Tuesday, September 24, 2019

Headline inflation 3.4 % in August

Headline inflation as measured by the year-on-year change in the National Consumer Price Index (NCPI, 2013=100)1 increased to 3.4 per cent in August 2019 from 2.2 per cent in July 2019.

The low base that prevailed in the corresponding month of the previous year and the monthly increases of prices of items in both food and Non-food categories contributed to this increase.

Meanwhile, in August 2019, year-on-year food and non-food inflation recorded 0.6 per cent and 5.6 per cent respectively. The change in the NCPI measured on an annual average basis increased marginally to 2 per cent in August 2019 from 1.9 per cent in July 2019. Monthly change of NCPI recorded 0.2 per cent in August 2019 and it was due to the price increases observed in the items of both Food and Non-food categories. The National Consumer Price Index (NCPI, 2013=100) is compiled by the Department of Census and Statistics.

However, annual average core inflation increased to 5.0 per cent in August 2019 from 4.7 per cent in July 2019.

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