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Annual inflation rate down by 0.6 points
By
Ephraim Munthali - 21-08-2002 |
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The annual inflation rate for the year ending July has declined by 0.6 percentage points to 16.1 from 16.7 in June this year, the National Statistical Office (NSO) has said.
NSO said in its monthly report released yesterday that the urban inflation rate is now 16.8 percent from 18.3 percent in June this year while the rural rate is 15.7 percent, down from 15.9 percent a month before.
According to NSO, rural price changes have been less pronounced than urban price changes, thereby dampening the overall effect in the June-July period.
The report also said the national food index has for the first time this year shown an increase as compared to the past six months.
“An increase of 1.4 percent has been registered this period, in contrast to an increase of 3.0 percent recorded at the same period last year,” said the report.
NSO said although the cereals and cereal products have registered slight drops in prices in some of the areas, the overall increase in food is attributed to an upward price adjustment in the pulses and nuts category, the sugar and fats category as well as the oil and fat category.
The price increase captured in some areas across the country in the alcohol and wine category has, according to NSO, contributed to the increase in the beverage and tobacco index.
The report said the increase has been recorded mostly on locally-produced alcoholic drinks and has registered an increase of 1.0 percent as compared to a decline of 3.3 percent in the preceding period.
NSO said the clothing and footwear index has gone up due to an increase in locally-produced women’s footwear products.
According to the report, the overall housing index has increased as well because of an upward price adjustment in some textiles and household energy sources.
The household operation index has experienced an increase as a result of price increases in some nondurable household commodities, said the report.
Following an increase in some car spares experienced in some urban areas, the transportation index, said NSO, has also increased.
The report said the miscellaneous index has registered an increase as a result of price increase in newspaper cost and some audiovisual equipment in urban areas. |
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