The country’s headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI) increased to 45.3% in May 2022 from 33.8% in April 2022.
This increase in Y-o-Y inflation was driven by the monthly increases of both Food and Non-Food categories.
Food inflation (Y-o-Y) increased to 58.0% in May 2022 from 45.1% in April 2022, while Non-Food inflation (Y-o-Y) increased to 34.2% in May 2022 from 23.9% in April 2022.
Monthly change of NCPI recorded at 9.67% in May 2022 due to price increases observed in items of both Food and Non-Food categories which were 5.41% and 4.26%, respectively. Accordingly, within the Food category, prices of rice, milk powder, vegetables, fresh fish and bread recorded increases during the month. Further, within the Non-Food category, increases were observed in prices of Transport (Petrol, diesel and bus fare), Housing, Water, Electricity, Gas and Other Fuel (Materials for maintenance/reconstruction and LP gas), Furnishing, Household Equipment and Routine Household Maintenance, and Miscellaneous Goods and Services (Car insurance and soap) sub-categories during the month.
The annual average inflation rose to 16.3% in May 2022 from 13.0% in April 2022.
The core inflation (Y-o-Y), which reflects the underlying inflation in the economy increased to 37.7% in May 2022 from 27.9% in April 2022, while annual average core inflation increased to 13.0% in May 2022 from 10.2% in April 2022.
FT