Inflation reverses 19-month trend, drops marginally to 18.12%

Headline inflation fell to 18.12 percent in April representing 0.05 percent point year-on-year (YoY) decline when compared to 18.17 percent recorded in March.

This also represents the first decline in inflation since August 2019 when inflation rate stood at 11.02 percent.

Similarly, food inflation fell YoY by 0.23 percentage points to 22.72 percent in April from 22.95 percent in March.

The National Bureau of Statistics, NBS, disclosing these yesterday in its Consumer Price Index, CPI, Report for April, stated: “The CPI which measures inflation increased by 18.12 percent (year-on-year) in April 2021. This is 0.05 percent points lower than the rate recorded in March 2021 (18.17) percent. Increases were recorded in all Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the headline index.