| Inflation accelerates to 9.7% in May |
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| Written by Staff Reporters | |
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The annual inflation rate accelerated to 9.7% in May from 9.3% in April, the Central Bureau of Statistics said in an email statement. Inflation was at 7.1% in May last year.
The latest is the second highest rise in inflation this year after a rate of 7.9% was witnessed in February.
The monthly inflation rate for May was estimated at 0.8%, a decrease of 0.9 percentage points over the April 2008 rate of 1.7%. This resulted from monthly decreases in the index for Clothing and Footwear. The All Items Index for May 2008 increased by 1.2 percentage points, up from 148.6 in April 2008 to 149.8. The rate in the index for Food and Non Alcoholic Beverages for May 2008 increased to 170.6, a monthly increase of 1.7 percentage points from the 168.9 recorded in April 2008. This was due to increases recorded in the subgroups of Mineral waters, Soft drinks and juices (2.3%), Bread and Cereals (2.2%), Non-alcoholic beverages (2.2%), Fish (2.1%), Foods products (1.7%), and Coffee, tea and cocoa (1.5%). The annual inflation rates for the major groups comprising the NCPI were Food and Non-Alcoholic Beverages (16.5%, Housing, Water, Electricity, Gas and Other Fuels (3.3%) and Transport (13.7%). |
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