Inflation Rate Increases To 17.61%
What is your take on the inflation rate as it affects everyone?
The nation’s inflation rate has recorded sustained increase in annual basis, as it has moved to 17.61 per cent in August 2016 from 17.13 per cent reported in July – the highest growth since 20 per cent rise in February 2009. However, monthly increase in composite consumer price index slowed for the third consecutive month to 1.01 per cent in August against 1.71 per cent recorded in June.
Increase in general price level was mainly due to supply factors such as higher foreign exchange rate and their passed through impact on consumer goods and services. Core inflation rate surged to 17.21 per cent in August higher than 16.93 per cent in July while food inflation rate rose to 16.43 per cent within the period under review faster than 15.80 per cent achieved in preceding month. Price index of: transportation climb further by 17.97 per cent at the end of August compared 17.53 per cent reported in the previous month; Clothing & footwear rose by 16.67 per cent from 16.06 per cent; and housing water, electricity, gas and other fuel climbed by 25.94 per cent from 25.61 per cent.
Source: Blueprint portal
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