The overall year-on-year inflation rate as measured by the Consumer Price Index (CPI) was 7.3 per cent, in July 2023.
The inflation was largely due to an increase in prices of commodities under Transport (13.0%); Food and Non-alcoholic Beverages (8.6%); and Housing, Water, Electricity, Gas and other fuels (7.8%) between July 2022 and July 2023.
These three divisions account for over 57 per cent of the weights of the 13 broad categories.
Further, the CPI increased by 0.1 per cent from an index of 134.01 in June 2023 to 134.15 in July 2023.
The month-to-month Food and Non-Alcoholic Beverages Index decreased by 0.5 per cent between June 2023 and July 2023.
However, prices of most food products dropped during the period.
In particular, the prices of potatoes, tomatoes, cowpeas and cabbages declined by 12.2, 10.1, 8.3 and 8.1 per cent, respectively, between June 2023 and July 2023. However, during the same period, the price of onions (leeks and bulbs) increased by 11.4 per cent.
The Housing, Water, Electricity, Gas and Other Fuels Index, decreased by 1.2 per cent between June 2023 and July 2023. This was mainly due to a decline in the prices of gas/LPG and electricity.
During the review period, the prices of 13 kg gas/LPG, electricity 200 kilowatts and electricity 50 kilowatts decreased by 9.2, 5.3 and 4.4 per cent, respectively, between June 2023 and July 2023.
However, during the same period, the prices of kerosene rose by 5.0 per cent. The Transport Index went up by 3.5 per cent between June 2023 and July 2023 mainly due to an increase in prices of petrol and diesel, which rose by 6.9 per cent and 7.4 per cent, respectively.
During the same period, fares for some public transport routes went up.
