Economy

National Bureau of Statistics says Inflation up by 12.56% in June

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The consumer price index (CPI) which measures inflation increased by 12.56 percent (year-on-year) in June 2020, according to the latest report released by the National Bureau of Statistics (NBS).

(CPI measures the average change over time in prices of goods and services consumed by people for day-to-day living).

This is 0.16 percent points higher than the rate recorded in May 2020 (12.40) percent. Increases were recorded in all COICOP divisions that yielded the Headline index.

On month-on-month basis, the Headline index increased by 1.21 percent in June 2020. This is 0.04 percent rate higher than the rate recorded in May 2020 (1.17 percent).

The percentage change in the average composite CPI for the twelve months period ending June 2020, over the average of the CPI for the previous twelve months period was 11.90 percent, representing a 0.11 percent point increase from 11.79 percent recorded in May 2020.

The urban inflation rate increased by 13.18 percent (year-on-year) in June 2020 from 13.03 percent recorded in May 2020, while the rural inflation rate increased by 11.99 percent in June 2020 from 11.83 percent in May 2020.

On a month-on-month basis, the urban index rose by 1.23 percent in June 2020, up by 0.05 from 1.18 percent recorded in May 2020, while the rural index also rose by 1.19 percent in June 2020, up by 0.03 from the rate recorded in May 2020 (1.16) percent.

The corresponding twelve-month year-on-year average percentage change for the urban index was 12.50 percent in June 2020. This is higher than 12.36 percent reported in May 2020, while the corresponding rural inflation rate in June 2020 was 11.36 percent compared to 11.26 percent recorded in May 2020.

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