Home Business Inflation Increases By 11.24% In September 2019 –NBS

Inflation Increases By 11.24% In September 2019 –NBS

66
0

The National Bureau of Statistics  (NBS) has said Consumer Price Index, (CPI) which measures inflation increased by 11.24 per cent (year-on-year) in September 2019.

This is 0.22 per cent points higher than the 11.02 per cent recorded in August 2019.

The bureau in its report on Tuesday said on month-on-month basis, the headline index increased by 1.04 per cent in September 2019, this is 0.05 per cent rate higher than the rate recorded in August 2019 (0.99) per cent.

According to NBS report, “The percentage change in the average composite CPI for the twelve months period ending September 2019 over the average of the CPI for the previous twelve months period was 11.268 per cent, showing 0.003 per cent point from 11.271 per cent recorded in August 2019.

“The urban inflation rate increased by 11.78 per cent (year-on-year) in September 2019 from 11.48 per cent recorded in August 2019, while the rural inflation rate increased by 10.77 per cent in September 2019 from 10.61 per cent in August 2019.

“On a month-on-month basis, the urban index rose by 1.13 per cent in September 2019, up by 0.09 from 1.04 per cent recorded in August 2019, while the rural index also rose by 0.96  per cent in September 2019, up by 0.03 from the rate  recorded in August 2019 (0.93) per cent.

“The corresponding 12-month year-on-year average percentage change for the urban index is 11.63 per cent in September 2019.

“This is higher than 11.62 per cent reported in August 2019, while the corresponding rural inflation rate in September 2019 is 10.94 per cent compared to 10.95 per cent recorded in August 2019.”

 

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here