In January 2022, the consumer price index, which monitors inflation, jumped by 15.60 percent year over year.
This is 0.87 percentage points lower than the rate of 16.47 percent in January 2021.
In January, the headline inflation rate slowed compared to the same month the previous year, as shown in the graph.
This was revealed in the National Bureau of Statistics’ Consumer Price Index data for January 2022, which was released on Tuesday.
According to the report, all COICOP divisions that contributed to the Headline index saw gains.
On a month-on-month basis, the Headline index increased to 1.47 percent in January 2022, this is 0.34 percent points lower than the 1.82 percent recorded in December 2021.
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The percentage change in the average composite CPI for the twelve-month period ending January 2022 over the average of the CPI for the previous twelve-month period was 16.87 percent, showing 0.08 percent point from 16.95 percent recorded in December 2021.
The urban inflation rate increased to 16.17 percent year-on-year in January 2022 from 17.03 percent recorded in January 2021, while the rural inflation rate increased to 15.06 percent in January 2022 from 15.92 percent in January 2021.
On a month-on-month basis, the urban index rose to 1.53 percent in January 2022, down by 0.34 percent points from 1.87 percent the rate recorded in December 2021.
The rural index also rose to 1.42 percent in January 2022, down by 0.35 percent points from 1.77 percent the rate recorded in December 2021.
The report added that the corresponding twelve-month year-on-year average percentage change for the urban index is 17.44 percent in January 2022.
This is lower than 17.52 percent reported in December 2021, while the corresponding rural inflation rate in January 2022 is 16.31 percent compared to 16.40 percent recorded in December 2021.
