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Inflation hits 15.75%

Inflation rose to 15.75 per cent in December 2020 from 14.89 per cent in November 2020, according to the National Bureau of Statistics (NBS).

The NBS, in a document released on Friday, stated that the rise showed an increase of 0.86 per cent above the November figure.

The agency said, ” The percentage change in the average composite CPI for the twelve months period ending December 2020 over the average of the CPI for the previous twelve months period was 13.25 percent, representing a 0.33 percent point increase over 12.92 percent recorded in November 2020.”

It also stated the headline index increase.

“On month-on-month basis, the Headline index increased by 1.61 percent in December 2020. This 0.01 percent rate higher than the rate recorded in November 2020 (1.60 percent).”

The urban inflation rate also rose to 16.33 per cent Y-o-Y and 1.65 per cent M-o-M in December.

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