National Bureau of Statistics (NBS) yesterday said the Consumer Price Index (CPI) has further dropped to 15.91 per cent in October from 15.98 per cent recorded in September, thus making it the ninth consecutive disinflation (slowdown in the inflation rate) in headline year on year inflation since January 2017.
On a month-on-month basis, the headline index increased by 0.76 per cent in October 2017, 0.02 per cent points lower from the rate of 0.78 per cent recorded in September.
According to a report available to Daily Sun, the figure represents the fifth consecutive month-on-month contraction in headline inflation since May 2017.
The Food Index increased by 20.31 per cent (year-on-year) in October, down marginally by 0.01 per cent points from the rate recorded in September (20.32 per cent).
On a month-on-month basis, the food sub-index increased by 0.85 per cent in October, down from 0.87 per cent recorded in August. This, the report, said, represents the fifth consecutive disinflation in month on month inflation since a 2017 high of 2.57 per cent in May 2017. October 2017 also represents the lowest recorded month on month inflation since September 2016, the report, said.
It said average headline month-on-month inflation for the first five months of the year (January to May 2017) stood at 1.54 per cent.
The NBS said the average headline month-on-month inflation for the next five months of the year (June to October 2017), stood at 1.06 per cent, indicating disinflation from June to date, compared to from January to May 2017.