Deborah Hundenu
The National Bureau of Statistics (NBS) on Monday, says inflation rate has increased from 31.70% in February 2024 to 33.20% in March 2024.
According to the Inflation Report in March 2024, the Bureau in its Consumer Price Index (CPI) says, the inflation rate showed an increase of 1.50% points related to the previous month.
However, the NBS also indicated that on a month-on-month basis, the headline inflation rate within March 2024 was 3.02%, which was 0.10% lower than the rate recorded in February 2024 (3.12%).
The Bureau furthermore explained that this means in March 2024, the rate of increase in the average price level is below the rate of increase in the average price level in February 2024.
The document said on a yearly basis, the headline inflation rate was 11.16% points higher compared to the rate recorded in March 2023, which was 22.04%.
This shows that the headline inflation rate (year-on-year basis) increased in March 2024 when compared to the same month in the preceded year (March).
According to NBS: “In March 2024, the headline inflation rate increased to 33.20% relative to the February 2024 headline inflation rate which was 31.70%.
“Looking at the movement, the March 2024 headline inflation rate showed an increase of 1.50% points when compared to the February 2024 headline inflation rate.”
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