24 January 2017 10:34 am
Inflation, as measured by the change in the National Consumer Price Index (NCPI), which is compiled by the Census and Statistics Department, increased marginally to 4.2 percent in December 2016 from 4.1 percent in November 2016, on an year-on-year (YoY) basis.
Both Food and Non-Food categories contributed towards the YoY inflation in December 2016.
The change in the NCPI measured on an annual average basis remained unchanged from last month at 4.0 percent in December 2016.
When the monthly change is considered, the NCPI increased from 116.6 to 118.0 index points from November to December 2016.
This monthly increase was mainly due to the increase in the prices of the items in the Food category. Within the Food category, the prices of rice, coconuts, fresh fish, vegetables, potatoes, big onions, papaw and eggs increased during the month.
Within the Non-Food category, the prices increased in Clothing and Footwear; Furnishing, Household Equipment and Routine Household Maintenance; Transport; Restaurants and Hotels and Miscellaneous Goods and Services sub-categories.
Prices in Housing, Water, Electricity, Gas and Other Fuels; Recreation and Culture and Alcoholic Beverages and Tobacco decreased during December 2016.
Meanwhile, prices in Health; Communication and Education sub-categories remained unchanged during the month. The NCPI core inflation, which reflects the underlying inflation in the economy, decreased marginally to 6.7 percent in December 2016 from 6.8 percent in November 2016.
The annual average NCPI core inflation increased slightly to 5.9 percent in December 2016 from 5.8 percent in November 2016.