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Published On: Wed, Jul 16th, 2014

Food prices up June inflation to 8.2% -NBS

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The National Bureau of Statistics (NBS) yesterday in its Consumer Price Index report stated that the country’s inflation rate increased to 8.2 per cent in the month of June.

The bureau, in the report, stated that the 8.2 per cent was an increase of 0.2 percentage point from the eight per cent recorded in May.

“In June 2014, the CPI, which measures inflation, edged higher from the previous month. Prices rose by 8.2 per cent (year-on-year) in June, up by 0.2 percentage points from eight per cent recorded in May,” the report stated. “This is the fourth consecutive month of year-on-year increases in inflation since the pace of price increase eased in February. The report attributed the increase recorded in June to higher prices in the bread and cereals, meats, fish and diary groups. It, however, said the prices in the food sub inflation were weighed down by relatively slower increases in the oils and fats, fruits and vegetable groups.

On the food sub-index, the report said this increased by 9.8 per cent in June, marginally higher from 9.7 per cent recorded in May. It said while food prices had increased for the fourth consecutive

month (year-on-year), during the first half of the year, the pace of increase in prices had slowed relative to the first half of 2013. For instance, it said from January to June of 2014, year-on-year rates averaged 9.4 per cent, which is 0.5 percentage points lower than what was recorded in the previous half year.

 

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