Economic Brief: September Inflation eases to 16.01% on the heel of weak food index

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Latest data from the National Bureau of Statistics (NBS) on Consumer Price Index (CPI) for August 2017 showed a further drop in rate to 16.01% year-on-year (YoY)…

Amongst the CPI categories, the Food sub-index dropped marginally to 20.25% (YoY), 3 basis points lower than 20.28% reported in July…
The Core sub-index (All Items less Farm Produce) halt the prior eighth straight month decline with a marginal uptick of 12.30% (YoY), representing 10 basis points higher than July’s figure…
Notwithstanding this August’s marginal decline, the existing rate trails the single digit era by as much as nineteen months…
The August’s CPI reading was only a basis point below our forecast of 16.02% and equally accommodated our basic assumption on moderation on food…
In our observation, the biggest decelerator of the inflation pressure in the month under review was the food index. The food index declined by 3 basis points to 20.25%…
Kindly click  here to download the CPI August 2017 report

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