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| Business |
| May inflation down to 9 percent |
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by
Ayam Maeresa, 22 June 2003
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15:29:10
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The inflation rate for the month of May dropped slightly to nine percent mainly driven by falling prices of the main staple food maize, the National Statistical Office (NSO) has said.
NSO said in its monthly analysis report released on Friday the level of inflation fell by 0.8 percent in the month under review. The organisation said corresponding rates for urban and rural areas were 10 and 8.6 percentages respectively.
The food index registered a drop of 6.2 percent, higher than 1.5 percent decline recorded in the same month last year, said NSO.
“The downward trend, which has been experienced from the month of March, is now being further strengthened by seasonal factors as most households have harvested the current season’s maize and other cereal products,” said NSO.
But the statistical office said although inflation has been on the decline since last September—especially on the food index—indices measuring prices other commodities have actually recorded increases between April and May.
The beverages and tobacco group increased by 4.3 percent owing to an upward movement of prices for both soft and alcoholic drinks, said NSO.
Household operation group went up by 2.2 percent because of an increase in prices of some nondurable household goods. The organisation said transport moved up because of increases in spare parts of bicycles. The impact was lessened by a drop in petroleum prices, said NSO. |
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