Breaking: Inflation Slows to 11.22% in June 2019 from 11.40%(Full Report)

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SWITZERLAND, JULY 15 – The Consumer Price Index(CPI), which measures the rate of inflation has reduced from 11.22% in June 2019 from 11.40% in May 2019 but remains high.

This was revealed in the June 2019 Inflation report published by the National Bureau of Statistics on Monday afternoon.

According to the NBS Director, Dr Yemi Kale Inflation slowed to 11.22% in June 2019 from 11.40% in May 2019. Food inflation at 13.56% in June 2019 (13.79% in May 2019); Core inflation at 8.80% in June 2019 (9.00% in May 2019)

Below is an excerpt from the report:

The consumer price index, (CPI) which measures inflation increased by 11.22 percent (year-on-year) in June 2019. This is 0.18 percent points lower than the rate recorded in May 2019 (11.40) percent.


Increases were recorded in all COICOP divisions that yielded the Headline index.
On month-on-month basis, the Headline index increased by 1.07 percent in June 2019, this is 0.04 percent rate lower than the rate recorded in May 2019 (1.11) percent.


The percentage change in the average composite CPI for the twelve months period ending June 2019 over the average of the CPI for the previous twelve months period was 11.29 percent, similar to the 11.29 percent recorded in May 2019.
The urban inflation rate increased by 11.61percent (year-on-year) in June 2019 from 11.76 percent recorded in May 2019, while the rural inflation rate increased by 10.87 percent in June 2019 from 11.08 percent in May 2019.


On a month-on-month basis, the urban index rose by 1.10 percent in June 2019, up by 0.05 from 1.15 percent recorded in May 2019, while the rural index also rose by 1.05 percent in June 2019, up by 0.02 from the rate recorded in May 2019 (1.07) percent.
The corresponding twelve-month year-on-year average percentage change for the urban index was 11.65 percent in June 2019. This is less than 11.66 percent reported in May 2019, while the corresponding rural inflation rate in June 2019 was 10.99 percent compared to 10.98 percent recorded in May 2019.

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