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Home [ MAIN ] “Inflation Rate in May is Highest Recorded Since 2013”- NBS Reveals

“Inflation Rate in May is Highest Recorded Since 2013”- NBS Reveals

The National Bureau of Statistics (NBS) has stated that the recently released  inflation rate for May 2015 at 9.0 per cent, 30bps was the highest recorded since 2013.

Measured Month-on-Month (M-o-M), the Headline Index rose 1.1 per cent in May, the highest M-o-M increase since June 2012.

NBS attributed the acceleration in the headline inflation to increases in most COICOP (Classification of Individual Consumption by Purpose) divisions which contribute to the headline index.

The uptrend in the COICOP divisions is not unconnected to the scarcity of petrol which led to increased pump price of Petrol (Gas Prices) in May. This had a knock-on effect on the prices of other consumer commodities and related services.

The increases in the COICOP divisions were also observed in the major sub-indices of the headline Index as both core and food inflation accelerated in May.

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