Hopes that the country’s inflation rate would moderate as a result of the various intervention programmes of the government were on Monday dashed as the National Bureau of Statistics on Monday announced that the Consumer Price Index, which measures inflation rate, rose to a 94-month high of 18.3 percent in October.
The 18.3 percent inflation rate, which is about 0.48 percent higher than the 17.9 percent recorded in September, is the highest since January 2009 when the NBS started publishing the revised version of the CPI.
The bureau attributed the increase in inflation rate to pressures recorded in some sub-indexes such as housing, electricity, gas, water, lubricants for personal transport and education. It explained that while the prices of food items such as bread, cereals, fish and meat also recorded significant increases, those of fruit items moderated during the period.
The report read in part, “The CPI, which measures inflation, increased by 18.3 percent (year-on-year) in October 2016, 0.48 percent points higher from the rate recorded in September. Read more