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Friday, 29 August 2008

Inflation Statistics - August 2008

The CSO August Edition can be found here. Inflations continues its upward movement. Inflation was recorded at 13.2 percent in August. This rate is 0.6 of a percentage point higher than the July rate of 12.6 percent. Compared with the same period last year, the annual rate of inflation increased by 2.5 percentage points, from 10.2 percent in August 2007 to 13.2 percent in August 2008.

The increase of 0.6 of a percentage points in the annual inflation rate is attributed to the increase in the cost of food. Annual food inflation rate was recorded at 16.3 percent in August 2008, up from 14.2 percent in July 2008. Contributing most to food inflation were increases in the cost of Maize and other cereal products. The annual non-food inflation rate was recorded at 10.4 percent in August 2008, down from 11.2 percent in June 2008.

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