Maravi

Monthly inflation rate back to double digit

Monthly inflation rate back to double digit
By Chiwoyu Sinyangwe
Thursday May 01, 2008 [04:00]

THE monthly inflation rate has rebound to a double digit fuelled by among other factors increasing food prices and household energy in the country, Central Statistical Office (CSO) announced yesterday. CSO director for Census and Statistics Efreda Chulu announced that monthly inflation rate for April marginally increased by 0.3 percentage points from 9.8 per cent in March 2008 to 10.1 per cent in April 2008.

Chulu, however, said the annual inflation rates for the same period last year declined by 2.3 percentage points from 12.4 per cent in April 2007 to 10.1 per cent in April 2008.

Releasing the results of the monthly survey yesterday, Chulu attributed the rise in the annual inflation rate for April to increase in prices for food, beverages and tobacco, rent and household energy, furniture and household goods.

Chulu also mentioned other factors as increase in prices of recreation and education.
She noted that the annual inflation rates for the same period decreased for clothing, footwear, transport and communication groups.

“The April 2008 inflation rate of 10.1 per cent means that prices as measured by all items CPI increased by an average of 10.1 per cent between April 2007 and April 2008,” said Chulu.

“The annual food inflation rate was recorded at 9.8 per cent in April 2008, compared to 9.1 per cent in March 2008. Contributing most to food inflation were increases in the cost of maize meal, other cereals and cereal products, cooking oil, milk and milk products, table salt and sugar and other processed food products.

Partially offsetting these increases were declines in the cost of maize grain, fresh vegetables, dry fish, dried kapenta, meat, eggs, dried beans, tubers and shelled groundnuts. ”

Labels: INFLATION

posted by MrK @ 5:58 AM