The National Bureau of Statistics (NBS) reported a 1.25% decrease in the headline inflation rate in August 2024 compared to July 2024’s rate of 33.40%. However, the rate was 6.35% higher compared to August 2023’s 25.80%.
The average CPI for the twelve months ending August 2024 was 31.26%, an 8.88% increase from August 2023. Urban inflation was also higher, with a year-on-year rate of 34.58% and a month-on-month rate of 2.39%. The corresponding twelve-month average for urban inflation was 33.44%.
