BEVERLY HILLS, January 13, (THEWILL) – The National Bureau of Statistics, NBS, has indicated that the rate of inflation in the country as at December 2016 was 18.55 per cent showing a year on year rising pattern.
This was as it pointed out that the inflationary trend in the country continued to soar higher.
The figures released by the bureau on Friday showed that the December rate of inflation was higher than that of the previous month by 0.07 per cent as the November 2016 inflation figure was 18.48 per cent.
The data indicated that there was cross cutting price increase in all divisions and sectors nationwide, just as the NBS revealed that prices in communications and restaurant, hotels and hospitality sector recorded slowest pace of growth within the period under review.
The report further held that the Food Index rose by 17.39 per cent (year-on-year) in December 2016, up by 0.20 per cent points from rate recorded in November (17.19%).
It also stated that all major food sub indexes increased, with Soft drinks recording the slowest pace of increase at 7.66 percent (year on year), during the month.
The bureau also maintained that price movements recorded by all items less farm produce or core sub index rose by 18.10 per cent (year-on-year) in December, down by 0.10 per cent points from rate recorded in November, when it stood at 18.20 per cent.
During the month, the highest increases were seen in Housing, Water, Electricity, Gas and Other Fuels, Clothing and Footwear, as well as Education, growing at 27.27 per cent, 21.62 per cent and 17.84 per cent respectively.
Meanwhile, the Headline index, on a month-on-month basis, rose by 1.06 per cent in December, higher from the rate recorded in November (0.78%).
