- According to figures released by the Department of Statistics, the inflation rate grew by 3.1% during the first nine months of the year compared to the same period last year, down from 3.2% for the first eight months of the year.
- Inflation is expected to ease this year to around 3.0% from 5.6% in 2013, as the effect of removing fuel subsidies in November 2012 seems to have faded.
- The report said that the rise in inflation was attributed mainly to higher prices in the following main commodities and services: Tobacco (up 13.7%); Clothes (up 10.3%); Rents (up 7.1%); Education (up 5.2%); and Transportation (up 3.0%)
- On the other hand, prices of other commodity groups dropped for the same time period: Vegetables (down 1.4%); Personal care (down 0.8%); Oils and fats (down 0.7%); and Telecommunications (down 0.2%)
- Comparing September of this year to September of 2013, inflation was up by 2.7%, down from 2.9% in August, driven largely by the same groups mentioned above.
- Meanwhile, on a monthly basis, inflation rose by 0.5% in September compared to August.
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