According to a report by Vanguard, the National Bureau of Statistics, NBS, said that the annual inflation rate dropped for the seventh consecutive month to 15.4 per cent in November from 15.99 per cent in October.
This represents a 2.77 percentage point decline since March when the inflation rate peaked at 18.17 per cent.
The NBS disclosed this in its Consumer Price Index report for November 2021.
The report stated, “Consumer price index, (CPI) which measures inflation increased by 15.40 percent (year-on-year) in November 2021. This is 0.51 per cent points higher than the rate recorded in November 2020 (14.89) percent. Increases were recorded in all COICOP divisions that yielded the Headline index.
“On a month-on-month basis, the Headline index increased by 1.08 per cent in November 2021, this is 0.10 percent rate higher than the rate recorded in October 2021 (0.98) per cent.
“The percentage change in the average composite CPI for the twelve months period ending November 2021 over the average of the CPI for the previous twelve months period was 16.98 percent, showing 0.02 percent point from 16.96 percent recorded in October 2021.
“The urban inflation rate increased by 15.92 per cent (year-on-year) in November 2021 from 15.47 percent recorded in November 2020, while the rural inflation rate increased by 14.89 percent in November 2021 from 14.33 per cent in November 2020.
“On a month-on-month basis, the urban index rose by 1.12 per cent in November 2021, up by 0.10 the rate recorded in October 2021 (1.02) percent, while the rural index also rose by 1.04 percent in November 2021, up by 0.09 the rate that was recorded in October 2021 (0.95) percent.
“The corresponding twelve-month year-on-year average percentage change for the urban index is 17.55 per cent in November 2021. This is higher than 17.53 per cent reported in October 2021, while the corresponding rural inflation rate in November 2021 is 16.42 percent compared to 16.39 percent recorded in October 2021.”