The general rate of inflation, as determined by the National Consumer Price Index (NCPI), has actually decreased to -0.2% in September 2024 from 1.1% in August 2024, according to the most recent information launched by the Department of Census and Statistics.
Meanwhile, food inflation also decreased to 0.5% in September, down from 2.3% in August.The NCPI for all items for the month of September 2024 is 203.1 and it tape-records a decrease of 1.0 in index points compared to August 2024.
The NCPI for all products for the months of September 2024 is 203.1.
A decrease of 1.0 index points or 0.48 percentage compared to August 2024 for which the index was 204.1.
This decline represents a decrease in expenditure value of Rs.
500.25 in the $ market basket $.
The overall rate of inflation as determined by the NCPI on a Year-over Year basis was -0.2% in September 2024 and inflation computed for the August 2024 was 1.1%.
On a month-to-month basis, the Year-on-Year inflation of the food group reduced to 0.5% in September 2024 from 2.3% in August 2024 and the Year-on-Year inflation of the non-food group decreased to -0.7% in September 2024 from 0.2% in August 2024.
On a Year-on-Year basis, contribution of food commodities to inflation was 0.22 percent in September 2024 compared to the month of September 2023, the report stated.
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