high-prices-of-food-items-push-inflation-to-12.40%-in-may-–-nbs

High prices of food items push inflation to 12.40% in May – NBS

NBSBy Emmanuel Elebeke

The National Bureau of Statistics, NBS says the rise within the costs of Bread and cereals, Potatoes, Yam and different tubers, Oils and fat, Fruits, Fish and Meat pushed the inflation fee to 12.40% in May.

In its month-to-month information report launched on Wednesday, the bureau defined that the patron worth index, (CPI) which measures inflation elevated by 12.40 p.c (year-on-year) in May 2020, 0.06 p.c factors increased than the (12.34) p.c fee recorded in April 2020.

The report signifies that will increase have been additionally recorded in all Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the Headline index.

On month-on-month foundation, the Headline index elevated within the months underneath overview by 1.17 p.c, that is 0.15 p.c fee increased than the speed recorded in April 2020 (1.02) p.c.

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The city inflation fee within the interval  elevated by 13.03 p.c (year-on-year)from 13.01 p.c recorded in April 2020, whereas the agricultural inflation fee elevated by 11.83 p.c in May 2020 from 11.73 p.c in April 2020.

On a month-on-month foundation, the city index rose by 1.18 p.c in May 2020, up by 0.12 factors from 1.06 p.c recorded in April 2020, whereas the agricultural index additionally rose by 1.16 p.c in May 2020, up by 0.18 factors from the speed recorded in April 2020 (0.90 p.c).

The corresponding twelve-month year-on-year common share change for the city index is 12.36 p.c in May 2020. This is increased than 12.26 p.c reported in April 2020, whereas the corresponding rural inflation fee in May 2020 is 11.26 p.c in comparison with 11.20 p.c recorded in April 2020.

The share change within the common composite CPI for the twelve months interval ending May 2020 over the typical of the CPI for the earlier twelve months interval was 11.79 p.c, displaying 0.08 p.c level from 11.71 p.c recorded in April 2020.

The composite meals index rose by 15.04 p.c yr on yr in May 2020 in comparison with 15.03 p.c in April 2020.

The common annual fee of change of the Food sub-index for the twelve-month interval ending May 2020 over the earlier twelve-month common was 14.33 p.c, 0.11 factors from the typical annual fee of change recorded in April 2020 (14.22 p.c).

On month-on-month foundation, the meals sub-index elevated by 1.42 p.c in May 2020, up by 0.24 p.c factors from 1.18 p.c recorded in April 2020.

On month-on-month foundation, the core sub-index elevated by 0.88 p.c in May 2020. This was down by 0.05 p.c compared with 0.93 p.c recorded in April 2020.

Meanwhile, the best will increase have been recorded in costs of pharmaceutical merchandise, Medical companies, Repair of furnishings, Hospital companies, Passenger transport by highway, Motor automobile, Bicycles, Maintenance and restore of non-public transport tools, Passenger transport by sea and inland waterways, Paramedical companies, Motor cycles and Hairdressing salons and private grooming institution.

The Core inflation, which excludes the costs of unstable agricultural produce stood at 10.12 p.c in May 2020, up by 0.14 p.c compared with 9.98 p.c recorded in April 2020.

The common 12-month annual fee of change of the index was 9.27 p.c for the twelve-month interval ending May 2020; that is 0.1 p.c factors increased than 9.17 p.c recorded in April 2020.

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