A report released by the National Bureau of Statistics (NBS) has shown that inflation figure increased by 15.92 in March 2022 due to increase in prices of gas, bread, cereals, liquid fuel and other food products. The figure is the highest so far in 2022.
It stated that the consumer price index (CPI) increased by month-on-month basis by 0.22 points from the 15.70 recorded in February.
Also, the headline index increased to 1.74 per cent in March 2022, a 0.11 per cent points higher than the rate recorded in February 2022 (1.63 per cent).
However, on a year-on-year basis, the figure was lower from 18.17 per cent rate recorded in March 2021.
“This means that the headline inflation rate slowed down in March 2022 when compared to the same month in the previous year,” the report stated.
The report also noted that urban inflation rate increased to 16.44 per cent year-on-year in March 2022, showing a decline of 2.32 per cent from the rate recorded in March 2021 (18.76 per cent).