Business
THE National Bureau of Statistics, NBS, has said that the Consumer Price Index which measures inflation dropped from 17.26 percent in March to 17.24 percent in the month of April. The NBS in its report on Tuesday, May 16, stated that the 0.02 percent points in inflation rate make it the third consecutive month of decline in the CPI.
This, the report added, is an indication that the high food and non-food prices in the, as well as the unfavourable base effects of the 2016 prices, have started easing. The report read in part, “The Consumer Price Index which measures inflation increased by 17.24 percent (year-on-year) though at a slower pace in April 2017, 0.02 per cent points lower from the rate recorded in March (17.26) per cent.
“This is the third consecutive month of a decline in the headline CPI rate, exhibiting effects of some easing in the already high food and non-food prices, as favourable base effects over 2016 prices.”
- May 16, 2017 @ 15:30 GMT
