Inflation Hits 16.47%, Highest Since April 2017
The National Bureau of Statistics (NBS) has said that the consumer price index, which measures the rate of increase in the price of goods and services, increased to 16.47 percent in January.
According to the NBS, this is the highest point since April 2017.
The CPI/Inflation report released by the bureau shows that food inflation has also crossed the 20 percent mark.
The report read: “The consumer price index, (CPI) which measures inflation increased by 16.47 percent (year-on-year) in January 2021. This is 0.71 percentage points higher than the rate recorded in December 2020 (15.75 percent).
“The urban inflation rate increased by 17.03 percent (year-on-year) in January 2021 from 16.33 percent recorded in December 2020, while the rural inflation rate increased by 15.92 percent in January 2021 from 15.20 percent in December 2020.
“The composite food index rose by 20.57 percent in January 2021 compared to 19.56 percent in December 2020.”