Annual Inflation to 9.8% in August 2022 from 9.9% in July 2022

Annual inflation for August 2022 decreased to 9.8 percent from 9.9 percent recorded in July 2022. This means that on average, prices of goods and services increased by 9.8 percent between August 2021 and August 2022 (see Figure 1). The slowdown in annual inflation was mainly attributed to price movements in food items.

Figure 1: Annual Inflation Rate, August 2021-August 2022 (%)

Annual Food and Non-Food Inflation

Annual food inflation for August 2022 was recorded at 11.3 percent from 12.0 percent in July 2022 (see Figure 2). This development was mainly attributed to price movements in food items such as Meats (Brisket, Mixed Cut, T-bone, Beef Sausages, Mince Meat, Ox-liver, Chicken live); Fruits (Oranges, Lemons, Bananas, Apples, Water melons, Pineapples, Avocadoes), Rice local and Eggs.

The annual non-food inflation for August 2022 was recorded at 7.8 percent from 7.2 percent in July 2022. This outturn was mainly on account of price movements in non-food items due to the base effect in Transport.

Figure 2: Annual Food and Non-Food Inflation, August 2021-August 2022 (%)