NCPI-based inflation drops to 70.6% in October
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NOV
23

NCPI-based inflation drops to 70.6% in October

NCPI-based inflation drops to 70.6% in October

 

Headline inflation as measured by the Year-on-Year change in the National Consumer Price Index (NCPI) has decreased to 70.6% in October 2022 from 73.7% in September 2022, according to the Department of Census and Statistics. 


Issuing the National Consumer Price Index (NCPI), for the month of October 2022, the Director General of Census and Statistics said that headline inflation as measured by the Year-on-Year change (The percentage change in the current month NCPI over same month NCPI of last year) based on the NCPI has been compiled as 70.6%. 


Whilst contributions of food and non-food groups to the inflation in October  2021 were 5.4% and 2.9% respectively, resulting in a headline inflation of 8.3%. With respect to October 2021, the reported inflation for the month of October 2022 was mainly due to the higher price levels prevailed in both food and non-food groups. 


Comparing the month-on-month changes, NCPI in October 2022 has increased to 256.9 from 256.2 reported in September 2022.

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