Inflation has hit an all-time high of 12.1 per cent since May, 2018, according to the consumer price index, according to data released by the National Bureau of Statistics [NBS] on Tuesday.
The consumer price index is a method used in measuring inflation, and rose to 12.13% in January.
The latest jump is the highest point in 20 months as the index increased from the 11.98% recorded in December.
In a report titled “CPI and Inflation Report January 2020“, NBS stated that price index increased by 12.13 percent (year-on-year) in January 2020.
“This is 0.15 percent points higher than the rate recorded in December 2019 (11.98) percent,” the report noted.
It added that “on month-on-month basis, the Headline index increased by 0.87 percent in January 2020.
“This is 0.02 percent rate higher than the rate recorded in December 2019 (0.85) percent.
“The percentage change in the average composite CPI for the twelve months period ending January 2020 over the average of the CPI for the previous twelve months period was 11.46 percent, showing 0.06 percent point from 11.40 percent recorded in December 2019.
