By ELIZABETH AMIHOR
The National Bureau of Statistics, NBS, said inflation rate rose to 15.6 percent in December last year, after recording eight months consecutive decline in 2021.
This represents 0.2 percent point rise when compared with 15.4 percent recorded in November 2021.
The Bureau disclosed this today in its consumer price index, (CPI) report for December 2021 noting that the food price index also rose by 0.16 per cent points to 17.37 per cent from 17.21 per cent in November 2021.
The report stated: “The CPI which measures inflation increased by 15.63 percent (year-on-year) in December 2021. This is 0.13 percent points lower than the rate recorded in December 2020 (15.75) percent. This is showing slowing down in the rate when compared to the corresponding period of 2020 . Increases were recorded in all COICOP divisions that yielded the Headline index.
“On month-on-month basis, the Headline index increased by 1.82 percent in December 2021, this…
Source: Vanguard Newspaper
