The National Bureau of Statistics has released its report on National Consumer Price Index (NCPI) for July 2022.
The annual headline inflation rate for July 2022 has slightly increased to 4.5% from 4.4% recorded in June 2022. The increase in headline inflation explains that the speed of price change for commodities for the year ended July 2022 has increased compared to the speed recorded for the year ended June 2022.
The overall index went up from 104.32% recorded in July 2021 to 109.05% in July 2022.
Food and Non-Alcoholic Beverages Inflation Rate for July 2022 has increased to 6.5% from 5.9% recorded in June 2022. On the other hand, the Annual Inflation Rate for all items without Food and Non-Alcoholic Beverages for July 2022 decreased to 3.9% in June 2022.
National Consumer Price Index between June and July 2022 has increased from 109.93 recorded in June 2022 to 109.05 recorded in July 2022.
The increase was attributed to a price increase for some food and non-food items. Some food items that contributed to an increase of the index include rice by 1.3%, maize grains 9.6%, wheat flour by 0.2%, maize flour by 4.7%, dried sardines by 2.3%, fruits by 0.5% and cooking banana by 1.0%.
On the other hand, some Non-food items that contributed to an increase of the index include: – Kerosine by 2.0% and petrol by 2.6%.