Inflation hits 3.6% in April

Thursday, 23 May 2019 03:16 - - {{hitsCtrl.values.hits}}

Headline inflation as measured by the year-on-year change in the National Consumer Price Index increased to 3.6% in April 2019 from 2.9% in March 2019 due to the monthly increases of prices of items in both Food and Non-food categories.

Meanwhile, in April 2019, year-on-year Food inflation was -1.2% while Non-food inflation continued its increasing trend for the fourth consecutive month recording a 7.5 per cent in the current month.

The change in the NCPI measured on an annual average basis increased to 1.9% in April 2019 from 1.7% in March 2019.

When monthly change is considered, the NCPI increased by 0.7% in April 2019 with the increases observed in the prices of the items in both Food and Non-food categories. Within the Food category, prices of vegetables, milk powder, potatoes, fresh fish, limes and big onions recorded notable increases.

Consequently, within the Non-Food category, prices of the items in Alcoholic Beverages and Tobacco; Transport; Miscellaneous Goods and Services; Health; and Clothing and Footwear sub-categories increased during the month.

The core inflation, which reflects the underlying inflation in the economy, increased to 6.3% in April 2019 compared to 5.8% in March 2019 on year-on-year basis, due to increases in prices of items in the Food category, mainly in milk powder, and the Non-food category particularly in Alcoholic Beverages and Tobacco; and Miscellaneous Goods and Services sub-categories. Annual average NCPI Core inflation also increased to 3.7% in April 2019 from 3.3% in March 2019.