The Consumer Price Index (CPI) which reflect the growth rate of prices for goods and services, further eased to 21.88 per cent in July compared to 22.22 per cent in the preceding month, the National Bureau of Statistics (NBS) said Friday.

Year-on-year, headline inflation stood at 33.40 per cent in July 2024, representing 11.52 per cent drop, though using a different base year, of November 2009.

According to the CPI figures for July which was released by the statistical agency, month-on-month, inflation rate was higher at 1.99 per cent in the period under review compared to 1.68 per cent in June.

In July, food inflation dropped to 22.74 per cent year on year on a year-on-year,  compared to 39.53 per cent

However, the NBS clarified that the significant decline in the annual food inflation figure was  technically due to the change in the base year.

Details later…

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