Food inflation soars to 85% in August

Thursday, 22 September 2022 00:29 - - {{hitsCtrl.values.hits}}

Inflation in August 2022 determined under the National Consumer Price Index (NCPI) rose to 70.2% from 66.7% recorded in July 2022 on a year-on-year basis whilst food inflation spiked to 85%, the Department of Census and Statistics reported yesterday.

The NCPI for all items for the month of August 2022 increased to 250.4 from 244.4 in the previous month.

With respect to August 2021, the reported inflation for the month of August 2022 was mainly due to the higher price levels prevailed in both food and non-food groups.

The Year-on-Year inflation of the food group increased to 84.6% in August 2022 from 82.5% in July 2022 and the Year-on-Year inflation of the non-food group increased to 57.1% in August 2022 from 52.4% in previous month.

Contributions to the inflation rate of August 2022 from food group and non-food group are 40.41% and 29.79% respectively.

The moving average inflation for the month of August 2022 is 31.3%. The corresponding rate for the month of July 2022 was 25.9%.

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