The National Bureau of Statistics (NBS) Tuesday, said inflation rate rose year-on-year by 0.15 basis point to 12.13 percent in January from 11.98 percent in December 2019.
The bureau disclosed this in its Consumer Price Index (CPI) report for January 2020.
iBrandTV analysis showed that this was the fifth consecutive monthly increase in inflation rate since July 2019.
In July 2019, m/m inflation rate stood at 11.08 percent from where it dropped to 11.02 percent to in August and up to 11.24 percent in September.
The rise in inflation rate continued in October where it increased to 11.61 percent and 11.85 percent in November 2019.
The upward trend continued in December as inflation rate rose to 11.98 percent and 12.13 percent in January.
The January CPI report stated:”The consumer price index, (CPI) which measures inflation 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.
“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.”