Inflation Rate for April Projected To Surge Above 13%

Analysts have forecasted inflation figure for April to leap above 13 per cent which would be the fourth consecutive increase in 2016.

Inflation had jumped to 12.8 per cent in March from 11.4 per cent in February.

This development had pushed up rates as bond and Treasury Bills yields rose. Investors had also cut back their interests in the fixed income market demand at bond and treasury bills auction slowed.

According to analysts at Financial Derivatives Company Limited the lingering fuel scarcity was debilitating to the economy and pressurised consumer prices in April. They forecast that inflation will rise to 13.2 per cent in April.