Statistics & Publication
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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