National Bureau of Statistics (NBS) has revealed that the consumer price index (CPI), which measures the rate of change in prices of goods and services rose to 32.7 percent in September.
Gatekeepers News reports that this is first time the CPI increased in three months after the country’s inflation rate declined in July and August 2024.
The latest data was given in NBS CPI report for September released on Tuesday.
NBS said the CPI increased by 0.55 percent (month-on-month) compared to August headline inflation rate.
The report goes, “On a year-on-year basis, the Headline inflation rate was 5.98% points higher compared to the rate recorded in September 2023 (26.72%).”
“This shows that the Headline inflation rate (year-on year basis) increased in September 2024 when compared to the same month in the preceding year (i.e., September 2023).”
“Furthermore, on a month-on-month basis, the Headline inflation rate in September 2024 was 2.52%, which was 0.30% higher than the rate recorded in August 2024 (2.22%).”
“This means that in September 2024, the rate of increase in the average price level is higher than the rate of increase in the average price level in August 2024.”
