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Inflation Rate Hits 11.40% in May- NBS

The National Bureau of Statistics (NBS), says the Consumer Price Index (CPI) which measured inflation increased to 11.40 percent (year-on-year) in May from 11.37 percent recorded in April.

The bureau said the figure was 0.03 percent points higher than the 11.37 recorded in April in the period under review.

It said the increases were recorded in all Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the headline index.

On a month-on-month basis, it said the headline index increased to 1.11 percent in the period under review by 0.17 percent points from 0.94 per cent recorded in April.

It said the percentage change in the average composite CPI for the 12 months period ended May over the average of CPI for the previous 12 months period.

It, however, measured the CPI at 11.30 per cent in the period under review, indicating a 0.01 per cent decline from 11.31 per cent recorded in April.

(NAN)