Housing, water, electricity contribute to 18.6% inflation rate in December- NBS

The National Bureau of Statistic (NBS) has said that inflation rate increased to 18.6 per cent in December 2016, 0.07 per cent above 18.48 per cent recorded in November.
During the month, the Bureau said hikes were seen in housing, water, electricity, gas and other fuels, clothing and footwear and education, growing at 27.27 per cent, 21.62 per cent and 17.84 per cent respectively.
NBS in its monthly report said communication; restaurants and hotels recorded the slowest pace of growth in December, growing at 5.33 per cent and 8.91 per cent respectively.
According to NBS, “The Food Index rose by 17.39 per cent (year-on-year) in December 2016, up by 0.20 per cent points from 17.19 per cent recorded in November.
“During the month, all major food sub-indexes increased, with Soft Drinks recording the slowest pace of increase at 7.66 per cent.
“Price movements recorded by all items less farm produce or core sub-index rose by 18.10 per cent in December, down by 0.10 per cent points from 18.20 per cent recorded in November.
The report noted that urban index rose by 20.12 per cent in December from 20.07 per cent recorded in November, and the rural index increased by 17.20 per cent in December from 17.10 per cent in November.
The report further says: “On month-on-month basis, the urban index rose by 1.08 per cent in December from 0.78 per cent recorded in November, while the rural index rose by 1.04 per cent in December from 0.79 per cent in November.
“The percentage change in the average composite CPI for the twelve-month period ending in December 2016 was 15.7 per cent, higher from the 15.0 per cent recorded in November 2016.
“The corresponding twelve-month year-on-year average percentage change for the urban index increased from 16.19 per cent in November to 17.05 per cent in December, while the corresponding rural index also increased from 13.90 per cent in November to 14.54 per cent in December.”