April inflation jumps to 4.3%

Friday, 27 May 2016 00:00 - - {{hitsCtrl.values.hits}}

April inflation increased to 4.3% in April 2016 from 2.2% in March 2016, on year-on-year basis as measured by the Census and Statistics Department, the Central Bank said in a statement yesterday.

Food and Non Alcoholic Beverages; Alcoholic Beverages and Tobacco; Clothing and Footwear; Furnishings, Household Equipment and Routine Household Maintenance; Heath; Transport; Recreation and Culture; Education; Restaurants and Hotels and Miscellaneous Goods and Services sub categories contributed towards the year-on-year inflation in April.

The change in the NCPI measured on an annual average basis increased to 2.6% in April 2016 from 2.4% recorded in March 2016.

When the monthly change in the NCPI is considered, the NCPI increased by 1.5% from 110.0 index points in March 2016 to 111.6 index points in April 2016. This monthly increase was mainly due to the increase in prices of the items in the Food and Non Alcoholic Beverages category.

Prices of fresh fish, salt, rice, some fruits, potatoes, sugar, chicken, eggs and bread increased during the month. Prices in Alcoholic Beverages and Tobacco; Clothing and Footwear; Housing, Water, Electricity, Gas, and Other Fuels; Furnishing, Household Equipment and Routine Household Maintenance; Transport; Restaurants and Hotels and Miscellaneous Goods and Services sub-categories increased during April 2016. Meanwhile, prices in Health; Communication; Recreation and Culture and Education sub-categories remained unchanged during the month.

“The change in inflation in April does not include the direct impact of recent changes in Value Added Tax (VAT) and Nation Building Tax (NBT), which were effected from May 2016,” the statement noted.