Data
released on Thursday by the National Bureau of Statistics (NBS) revealed that
the drop was by 0.99 percent during the period.
It is also
the fourth consecutive time the inflation rate was declining since January
2017, the NBS said in its latest report.
On a
month-on-month basis, the headline index increased by 1.88 percent in May 2017,
0.28 percent points higher than the rate of 1.60 percent recorded in April
2017, indicating the existence of persistence pressure on prices despite the
general decline in year on year inflation.
Month on
Mont inflation has cumulatively risen by 7.7% since January 2017,” the stats
agency stated.
According to
the report, percentage change in the average composite CPI for the 12-month
period ending in May2017 over the average of the CPI for the previous 12-month
period was 17.63 percent, higher from 17.59 percent recorded in April 2017.
Also, the
Food Index increased by 19.27percent (year-on-year) in May 2017, down by 0.03
percent points from the rate recorded in April (19.30 percent) indicating continued
pressure in food prices.
Price
movements recorded by All Items less farm produce or Core sub-index rose by
13.00 percent (year-on-year) in May, down by 1.80 percent points from rate
recorded in April (14.80) percent. This represents the 7th straight month of
decline in the core index since November 2016
The Urban
index rose by 16.34 percent (year-on-year) in May 2017 from 17.62 percent
recorded in April, while the Rural index increased by 16.02 percent in May from
16.69 percent in April.
On month-on-month
basis, the urban index rose by 1.84 percent in May from 1.61 percent recorded
in April, while the rural index rose by 1.92 percent in May from 1.59 percent
in April.
The
corresponding twelve-month year-on-year average percentage change for the urban
index increased from 18.98 percent in April to 18.88 percent in May, while the
corresponding rural index also increased from 16.37 percent in April to 16.50
percent in May.
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