The National Bureau of Statistics (NBS) has released inflation figures for December 2022 seeing a slight drop from the previous 21.47 percent in November 2022 to 21.34 percent.
This is the first time the country’s inflation figure will drop month-on-month in the last eleven months.
Compared to November 2022, the rate dropped by 0.12% points, representing a 5.72% points increase compared to 15.63% recorded in the corresponding period of last year.
Food inflation, a closely watched indices, fell to 23.75% in December 2022 from 24.13% recorded in the previous month.
On the other hand, the “All items less farm produce’’ index or Core inflation, which excludes the prices of volatile agricultural produce, stood at 18.49% in December 2022. This is 24.8 basis points higher when compared to the 18.24% recorded in November 2022.