National inflation down in October 2022

November, 21, 2022

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%.

The headline inflation reported for the month of September 2022 was 73.7%.

Contributions to the inflation rate of October 2022 from the food group and non-food group are 38.5% and 32.1% respectively. 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.

Anyway, on a monthly basis, the Year-on-Year inflation of the food group decreased to 80.9% in October 2022 from 85.8% in September 2022 and the Year-on-Year inflation of the non-food group also decreased to 61.3% in October 2022 from 62.8% in September 2022.