Inflation rate dropped to 11.14 per cent in July from the 11.23 per cent recorded in June 2018.
The Consumer Price Index (CPI), which measures inflation, released yesterday by the National Bureau of Statistics (NBS), indicates that the latest 0.09 per cent points drop in inflation rate represents an 18th consecutive disinflation in headline inflation year-on-year. Analysis of the report shows that on month-on-month basis, the headline index increased by 1.13 per cent in July 2018, down by 0.11 per cent points from the 1.24 per cent recorded in June. “This represents the first time month-on-month headline inflation has declined since February 2018,” the report stated.
The urban inflation rate eased by 11.66 per cent (year-on-year) in July from 11.68 per cent as recorded in June, while the rural inflation rate remained flat at 10.83 per cent in July from 10.83 per cent in June.
On a month-on-month basis, the urban index rose by 1.23 per cent in July, down by 0.01 from 1.24 per cent recorded in June.
The rural index also rose by 1.18 per cent in July 2018, down by 0.05 per cent from the 1.23 per cent recorded in June.
The corresponding 12-month year-on-year average percentage change for the urban index was 14.33 per cent in July, being less than the 14.71 per cent reported in June 2018. The corresponding rural inflation rate in July was 13.64 per cent compared to 14.08 per cent recorded in June.
