The National Bureau of Statistics (NBS), on Monday published its Consumer Price Index indicating that inflation rose by 18.3% in October, up by 0.48% from previous month’s 17.9%.
According to the report, in the period under review, “the highest increases were seen in housing, water, electricity, gas and other fuels as well as, fuels and lubricants for personal transport equipment and Education,” the NBS noted.
On a month-on-month basis, the Headline index rose by 0.83% in October, higher than the 0.81% recorded in September, with the Urban index ring by 19.9% (year-on-year) in October from 19.5% in September, and the Rural index increased by 16.95% in October from 16.4% in September.
“The percentage change in the average composite CPI for the twelve-month period ending in October 2016 over the average of the CPI for the previous twelve-month period was 14.2%, higher from 13.5% recorded in September. The corresponding 12-month year-on-year average percentage change for the urban index increased from 14.4% in September to 15.3% in October, while the corresponding rural index also increased from 12.6% in September to 13.3% in October.”
The Composite Food Index rose by 17.1% in October, caused by the increase in prices of bread and cereal, fish, and meat.