November Inflation Unchanged at 10.5%
Inflation for November was 10.5%, unchanged from the rate in October, according to a report released by the National Bureau of Statistics today.
“While there was a sharp increase in the prices of some imported food items in November 2011, this was moderated by the stable and lower price of some locally produced food product due to the prevailing harvest season”
“Furthermore, despite rises in food prices in a few parts in November 2011 relative to October, 2011, more areas across the country witnessed stable prices compared to previous month due to the fact that it is the harvest season resulting in an increase in the supply of several food items in November relative to October.”
The report attributed food, non-alcoholic beverages, clothing and footwear, kerosene, diesel and transport to be the “biggest contributors” to November y-o-y inflation.
Average monthly prices increased marginally in November by 0.3 % over October levels. The specific foodstuffs responsible for the increase are yam, cooking oil, fish and beef, according to the report.
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