Inflation Down To 8%

According to figures from the National Statistical Office (NSO), the headline inflation for July 2020 slightly eased by about 0.5 percentage points to 8.0%.

According to the report, the above has been attributed to a drop in both food and non-food inflation.

Last month, figures from the Monetary Policy Committee statement showed that annual inflation for 2020 has been projected at 9.8%, which is 0.4 percentage points higher than the 9.4% obtained in 2019.

The projection was attributed to an impending significant inflationary pressure emanating from a gradual pick-up in food prices especially maize.

Meanwhile, headline inflation declined to an average of 8.9% in the second quarter of 2020 from an average of 10.6% in the first quarter, on the back of weakening food and domestic pump fuel prices.

-nationonline-