16 Nov Inflation rate hits 14.23% in October
The consumer price index which measures inflation, increased by 14.23% (year-on-year) in October 2020, the National Bureau of Statistics (NBS) reported today
This is 0.52% points higher than the rate recorded in September 2020 (13.71%).
According to NBS the composite food index rose by 17.38 percent in October 2020 compared to 16.66 percent in September 2020.
On a month-on-month basis, the Headline index increased by 1.54% in October 2020, this is 0.06% rate higher than the rate recorded in September 2020 (1.48%).
The percentage change in the average composite CPI for the twelve months period ending October 2020 over the average of the CPI for the previous twelve months period was 12.66%, showing a 0.22% point rise from 12.44 percent recorded in September 2020.