The consumer price index (CPI), which measures the rate of change in prices of goods and services, dropped to 17.75 percent in June from 17.93 in May.
This is according to the ‘Consumer Price Index Report for June’, released by the National Bureau of Statistics (NBS), on Friday.
On month-on-month basis, the Headline index increased by 1.06 percent in June 2021. This is 0.05 percentage points higher than the rate recorded in May 2021 (1.01 percent).
The composite food index rose by 21.83 percent in June 2021 compared to 22.28 percent in May 2021. This implies that food prices continued to rise in June 2021 but at a slightly slower speed than it did in May 2021.
More to follow…
