The Consumer Price Index (CPI) which measures inflation has increased by 18.72 per cent in January 2017, 0.17 percentage points higher from the rate recorded in December 2016 (18.55) per cent.
According to data released by the National Bureau of Statistics, restaurants and hotels recorded the slowest pace of growth in January, growing at 5.1 percent and 8.4 percent respectively. However, the faster pace of growth were bread and cereals, meat, fish, oils and fats, potatoes, yams and other tubers, wine and spirits, clothing materials and accessories, electricity, cooking gas, liquid and solid fuels, motor cars and maintenance, vehicle spare parts and fuels and lubricants for personal transport equipment, passenger transport by road.
On a whole, inflation was driven by passenger transport by air, fuels and lubricants for personal transport equipment, liquid fuels, cooking gas, oils and fats, fruits, Miké cheese and eggs, fish, meat and bread and cereals.
The Food Index increased by 17.82 per cent in January, up by 0.43 percent points from rate recorded in December 2016 at 17.39 per cent. During the month, all major food sub-indexes increased, with Soft drinks recording the slowest pace of increase at 7.8 per cent. Price movements recorded by core sub-index rose by 17.90 percent in January, down by 0.20 percent points from rates recorded in December 2016 which was 18.10 per cent. During the month, the highest increases were seen in housing, water, electricity, gas and other fuels, education and transport growing at 27.2, 21.0 and 17.2 per cent respectively.
The Urban index rose by 20.31 per cent in January from 20.12 per cent recorded in December, and the rural index increased by 17.34 per cent in January from 17.20 per cent in December. On month-on-month basis, the urban index rose by 1.03 percent in January from 1.08 percent recorded in December, while the rural index rose by 1.00 percent in January from 1.04 percent in December.
Source : Leadership