Inflation Rises To 26.72% In September 2023 – NBS
Inflation rate increased from 25.80% in August 2023 to 26.72% in September 2023.
The National Bureau of Statistics (NBS) disclosed this in a statement on Monday, titled: CPI and Inflation Report September 2023.
According to the statement September 2023, the headline inflation rate increased to 26.72% relative to the August 2023 headline inflation rate which was 25.80%.
The bureau noted that the increase was by 0.92% points when compared to that of August 2023.
This was contained in its document titled: CPI and Inflation Report September 202.
NBS said looking at the movement, the September 2023 headline inflation rate showed an increase of 0.92% points when compared to the August 2023 headline inflation rate.
It explained that on a year-on-year basis, the headline inflation rate was 5.94% points higher compared to the rate recorded in September 2022, which was 20.77%.
The document said this shows that the headline inflation rate (year-on-year basis) increased in September 2023 when compared to the same month in the preceding year (i.e., September 2022).
NBS further noted that on a month-on-month basis, the headline inflation rate in September 2023 was 2.10%, which was 1.08% lower than the rate recorded in August 2023 (3.18%).
According to the document, this means that in September 2023, the rate of increase in the average price level was less than the rate of increase in the average price level in August 2023.
