Inflation drops to 4.91 percent in September

Inflation is at 4.91 percent in September. This was 0.43 percentage points lower than inflation in August, which stood at 5.34 percent.

As per the consumer price index (CPI) published by the National Statistics Bureau (NSB), the prices of food increased by 6.53 percent and non-food commodities by almost by 6.82% and 3.66% respectively.

The prices of domestic goods and services increased by 5.22 percent with corresponding increase in food price by 5.81 percent and 4.88 percent in prices of non-food commodities.

Prices of imported food increased by 7.63 percent and prices of non-food by 2.43 percent, resulting in a total increase by 4.62 percent. Which means increase in price of locally produced goods and services have contributed more to the overall inflation.

The NSB attaches almost 51.99 percent of the total weights to imported items and rest for domestically produced goods and services. This indicates the amount of goods and services the country imports.

While house rents are given more weights of 15.12 among the non-food group, the price has not changed much from September last year.

The CPI for September over August decreased by 0.09 percent due to decrease in non-food prices.

About Kinley Yonten

Leave a Reply

Your email address will not be published. Required fields are marked *