Inflation rate rises to 11.61% in October

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The National Bureau of Statistics on Monday released the Consumer Price Index which measures inflation with the index rising to 11.61% in October.

The NBS in its report said the 11.61% is 0.36 percentage points higher than the 11.24% recorded in September.

The rise in inflation rate according to experts may be connected to the ongoing border closure which had made it difficult for products to be exported and imported into the country through the land borders.

The report reads in part, “The consumer price index, which measures inflation rose by 11.61% year-on-year in October 2019.

“This is 0.36 percentage points higher than the rate recorded in September 2019 (11.24%).”

On month-on-month basis, the report said the index increased by 1.07% in October, adding that this is 0.03% points higher than the 1.04% recorded in September.

Source: Punch News

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