The National Bureau of Statistics says Consumer Price Index
(CPI) which measures inflation for the month of December rose by 8.0 percent
(year-on-year), 2014, a 0.1 percentage points from 7.9 percent recorded in
November.
In its monthly inflation report sent to our news desk on
Tuesday, the figures imply that inflation has held in the single digit
range for twenty four consecutive months. Specifically in December, the faster
pace of price increases recorded by the Headline index was as a result of
advances in a broad array of divisions that yield the Headline index.
In Food prices, it edged slightly higher in December as a
result of the festive period. Over that span, the Food sub-index rose by 9.2
percent (year-on-year) up from 9.1 percent recorded in November. This was the
first uptick in rates of food prices observed in four months.
According to the statement, the headline index, food prices
increased at a marginally faster pace in December. Food prices as measured by the
Food sub-index rose by 9.2 percent, 0.1 percentage points higher from rates
recorded in November. On a month-on-month basis, food prices increased by 0.9
percent in December, 0.3 percentage points higher from rates recorded in
November. This also represents the highest month-on-month increase observed
since March 2014.
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