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Economic and Financial Review - Jan 2008
Thursday, 31 January 2008 00:00
A battery of factors including rising oil prices in the world economy and increases in energy and utility prices in the domestic economy raised the general cost of living and inflationary pressures. However exchange rates remained stable and economic performance generally improved, despite the energy supply disruptions for the most part of the year.

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Economic and Financial Review - Nov 2007
Friday, 30 November 2007 00:00
Price indications for October 2007 showed that inflation eased marginally from 10.2 per cent recorded at the end of the second quarter to 10.1 per cent. The marginal decline in October was aided by food prices. The food price index declined in the month by 1.1 per cent while non-food prices increased by 0.5 per cent. The development in food and non-food prices resulted in a decline in the overall index by 0.2 per cent. A year ago in October 2006, the overall index recorded a decline of 0.1 per cent, stemming from a 0.7 per cent decline in the food price index and a 0.3 per cent increase in the non-food price index.

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Economic and Financial Review - May 2007
Thursday, 31 May 2007 00:00
By the end of the first quarter of 2007, CPI inflation declined to 10.2 per cent from 10.9 per cent as at end December 2006. The marginal slowdown in the rate of inflation was aided more by non-food prices than by food prices. Food prices rose during the first quarter by almost a percentage point (to 8.4%) while increases in non-food prices slowed down from 13.6 per cent (December 2006) to 11.6 (March 2007). The one reason for the slowdown in the non-food componenet was the fact that by the end of March 2006, petroleum prices had increased by about 10 per cent whiles a change in petroleum prices had been observed by the end of the first quarter of 2007 resulting in a base drift in the measurement of inflation over the two periods.

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Economic and Financial Review - Sept 2005
Friday, 30 September 2005 00:00
In July 2005 consumer headline inflation dropped by 80 basis points from the level of 15.7 per cent attained at the end of the second quarter. The decline in inflation is the fourth consecutive drop in headline inflation. At 14.9 per cent, the headline inflation is close to its level in February 2005 ie. before the first impact of the 50.0 per cent petroleum price adjustment registered on consumer prices. The decline in inflation in July 2005 was driven by both food and non-food prices. The food price index registered a growth of 0.4 per cent while the non-food index grew by 0.3 per cent. The overall index, thus, grew by 0.3 per cent and this is significantly lower than the growth of 1.1 per cent recorded in July 2004. This comparatively lower growth in consumer prices relative to trends a year ago resulted in downward move of inflation from 15.7 per cent to 14.9 per cent.

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