Inflation Drops to 8.4%

The National Bureau of Statistics (NBS) has released the Consumer Price Index (CPI) report for the month of June, putting inflation rate at 8.4%.

The new inflation rate, 8.4%, is the lowest inflation rate to be recorded by the country in the 2013 fiscal period, 0.6 percentage points lower than the 9.0% rate recorded in May.

The CPI measures the average change over time in prices of goods and services consumed by people in day-to-day living. The CPI in January was 9.0%; it moved to 9.5% in February; while March, April and May recorded 8.6%, 9.1% and 9.0%, respectively.