National Bureau of Statistics (NBS) on Tuesday said inflation rate in the country rose to 13.22 per cent in August.
It was the recorded biggest month on month increase so far this year.
The 13.22 per cent inflation rate is the highest since April 2018, the NBS data showed.
Read also: Why Inflation Rose To 12.34% In April — NBS
“The consumer price index, which measures inflation increased by 13.22 per cent (year-on-year) in August 2020. This is 0.40 per cent points higher than the rate recorded in July 2020 (12.82 per cent).
“On a month-on-month basis, the headline index increased by 1.34 per cent in August 2020. This is 0.09 per cent higher than the rate recorded in July 2020 (1.25 per cent).”
The composite food index rose by 16 per cent in August, compared to 15.48 per cent in July, according to the statistics office.
“The percentage change in the average composite CPI for the 12 months period ending August 2020 over the average of the CPI for the previous twelve months period was 12.23 per cent, representing a 0.18 per cent point rise from 12.05 per cent recorded in July 2020.”
The report stated that the urban inflation rate increased by 13.83 per cent (year-on-year) in August from 13.40 per cent recorded in July.
Meanwhile, the rural inflation rate increased by 12.65 per cent in August from 12.28 per cent in July.
On a month-on-month basis, the urban index rose by 1.42 per cent in August, up by 0.15 from 1.27 per cent recorded in July.
The rural index also rose by 1.27 per cent in August, up by 0.04 from the rate recorded in July 2020 (1.23 per cent).
“The corresponding 12-month year-on-year average percentage change for the urban index was 12.85 per cent in August.
“This is higher than 12.66 per cent reported in July, while the corresponding rural inflation rate in August was 11.66 per cent compared to 11.49 per cent recorded in July,” the report stated.