Inflation Declines Further to 11.61%

For the 16th month, inflation rate continued a downward trajectory, declining from 12.48 per cent in April to 11.61 per cent in May.

Meanwhile, the latest inflation figures released by the National Bureau of Statistics (NBS) showed that the Consumer Price Index (CPI), which measures inflation stood at 11.61 per cent (year-on-year) in May 2018, saying: “This is 0.87 per cent points less than the rate recorded in April 2018 (13.34) per cent. “

On a month-on-month basis, the Headline Index increased by 1.09 per cent in May 2018, up by 0.26 percentage points over the rate recorded in April 2018.

The percentage change in the average composite CPI for the 12 months period ending May 2018 over the average of the CPI for the previous 12 months period was 14.79 per cent, indicating a 0.41 percentage point decline from 15.20 per cent posted in April 2018.

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