Again, inflation drops to 15.40%

The Consumer Price Index (CPI) which measures inflation dropped to 15.40 per cent (year-on-year) in November compared to 15.99 per cent in the preceding month, the National Bureau of Statistics (NBS) stated Wednesday.

This is 0.51 percentage points higher than the 14.89 per cent recorded in November 2020.

Food inflation moderated to 17.21 per cent in compared to 18.30 per cent in November 2020.

The food index witnessed moderation in prices of bread and cereals, fish, food product, potatoes, yam and other tuber, oil and fats, milk, cheese and eggs and coffee, tea and cocoa.

On month-on-month basis, the food sub-index increased by 1.07 per cent in November 2021, up by 0.16 percentage points from 0.91 percent recorded in October.

The core index, which excludes the prices of volatile agricultural produce stood at 13.85 per cent in November 2021, up by 0.61 percent when compared with 11.05 percent recorded in November 2020.

On month-on-month basis, the core sub-index increased by 1.26 per cent in November 2021. This was up by 0.46 per cent when compared with 0.80 percent recorded in October 2021.

The core inflation was influenced by highest increases in prices of gas, liquid fuel, other services, garments, vehicle
spare parts, passenger transport by road, non-durable household goods, jewellery clocks and watches, passenger transport by air, pharmaceutical products, appliances, articles and products for personal care.

Others are cleaning, repair and hire of clothing and fuels and lubricants for personal transport equipment.

The average 12-month annual rate of change of the index was 12.96 per cent for the twelve-month period ending November 2021.