Annual Inflation Rate, May 2021 – May 2022 (%)
Annual inflation for May 2022 decreased to 10.2 percent from 11.5 percent recorded in April 2022. This means that on average, prices of goods and services increased by 10.2 percent between May 2021 and May 2022 (see Figure 1). The slowdown in annual inflation was mainly attributed to price movements in both food and non-food items.
Figure 1: Annual Inflation Rate, May 2021 – May 2022 (%)
Annual Food and Non-Food Inflation
Annual food inflation for May, 2022 was recorded at 12.3 percent compared to 14.1 percent recorded in April 2022 (see Figure 2). This development was mainly attributed to price movements in food items such as Meat (Brisket, Fillet steak, Chicken frozen, T bone); Fish (Frozen fish, Buka buka, Dried kapenta); Fruits (Lemons, Watermelon, Groundnuts) and Vegetables (Pumpkin leaves, Sweet potato leaves, Chinese Cabbage, Okra, Cabbage and Tomatoes).
The annual non-food inflation for May 2022 was recorded at 7.5 percent from 8.2 percent in April 2022. This outturn was mainly on account of price movements of non-food items such as Fuels and Lubricants (Diesel, Petrol, Engine oil); Clothing materials (citenge, silk and clothing); Shoes and footwear (Sports shoes, lady’s shoes, lady’s synthetic shoes, Tropicals); Refrigerator and Stove.
Figure 2: Annual Food and Non Food Inflation, May 2021 – May 2022 (%)