Inflation rises to 18.72% in January 2017

The Consumer Price Index (CPI) which measures inflation increased by 18.72 percent (year-on-year) in January 2017, 0.17 percentage points higher from the rate recorded in December 2016 (18.55) percent.

This was stated in a recently released report by the National Bureau of Statistics.

The index increased by 1.01 percent point in January, 0.05 percent points from 1.06 percent rate recorded in December 2016

Communication, Restaurants and Hotels recorded the slowest pace of growth in January, growing at 5.1 percent and 8.4 percent (year-on-year) respectively.

However, the faster pace of growth in headline inflation, year on year, were bread and cereals, meat, fish, oils and fats, potatoes, yams and other tubers, wine and spirits, clothing materials and accessories, electricity, cooking gas, liquid and solid fuels, motor cars and maintenance, vehicle spare parts and fuels, lubricants for personal transport equipment, and passenger transport by road.

On a month on month basis, headline inflation was driven by passenger transport by air, fuels and lubricants for personal transport equipment, liquid fuels, cooking gas, oils and fats, fruits, Miké cheese and eggs, fish, meat, bread and cereals.