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The National Bureau of Statistics on Thursday released the Consumer Price Index, which measures inflation, with the index dropping from 17.24 per cent in April to 16.25 per cent year-on-year in May.
The NBS stated that on a month-on-month basis, the headline index rose by 1.88 per cent in May, representing a 0.28 percentage points higher than the 1.60 per cent recorded in April.
April of 19.30 per cent.”
The NBS report stated that on a month-on-month basis, the food sub-index increased by 2.54 per cent in May, up by 0.50 percentage points from 2.04 per cent recorded in April.
The report explained that the urban index rose by 1.84 per cent in May, from 1.61 per cent recorded in April, while the rural index rose by 1.92 per cent in May from 1.59 per cent in April.
“The rise in the index was caused by increases in the prices of meat, bread and cereals, fish, potatoes, milk cheese and eggs, as well as vegetables such as tomatoes,” it added.
