JANUARY
2003 INFLATION RATE STAGNATES
Inflation
rate for January 2003 has remained the same as was for December 2002.
According to the National Consumer Price Index
(NCPI), Inflation rate for January 2003 is 4.4 percent in relation to
the figures for January the previous year. The January 2003 inflation rate has
remained stagnant when compared with December 2002 inflation figure, which was
4.4 percent as measured on a year - to - year basis. However, as measured on a
month-to-month basis, that is between December 2002 and January 2003,
inflation went up by 3.0 percent.
The overall Index increased from 232.3 in December 2002 to 239.3 in January 2003. Prices for both food items and non-food items had gone up. Food items that had increased prices were rice, maize grain, maize flour, beef, chicken, goat meat, liver, sausages, fish, cooking bananas, beans, cowpeas, cassava and potatoes. Non-food consumer items, which had increased prices were average rent, clothing and footwear, furniture, household equipments, laundry soap, insecticides, dry cleaning, panadol, aspro, cough syrup, doctors fee, TV sets, bicycles, car service, notebooks, wrist watches, hand bags and umbrellas. Details of the National Consumer Price Index for the month of January 2003 by consumption groups is tabulated below: -
NATIONAL CONSUMER PRICE INDEX (ALL-URBAN)
JANUARY, 2003
(Base: December 1994 = 100)
|
MAIN GROUP
|
Weight |
Jan. 2003 |
Dec. 2002 |
% ChangeDec. 2002 to Jan. 2003 |
Jan. 2002 |
% Change Jan. 2002 to Jan. 2003 |
|
|
1. |
Food |
71.2 |
248.2 |
239.1 |
+
3.8 |
241.7 |
+
2.7 |
|
2. |
Drinks and Tobacco |
4.4 |
183.8 |
183.7 |
+
0.1 |
176.4 |
+
4.0 |
|
3. |
Rents |
3.9 |
207.7 |
202.3 |
+
2.7 |
199.4 |
+
4.2 |
|
4. |
Fuel, Power and Water |
4.7 |
338.3 |
338.2 |
0.0 |
273.0 |
+
23.9 |
|
5. |
Clothing and Footwear |
3.7 |
210.3 |
208.4 |
+
0.9 |
194.6 |
+
8.1 |
|
6. |
Furniture & Household Equipment |
2.5 |
204.6 |
202.0 |
+
1.3 |
192.2 |
+ 6.5 |
|
7. |
Household Operations & Maintenance |
1.5 |
166.8 |
164.3 |
+
1.5 |
157.4 |
+
6.0 |
|
8. |
Personal Care & Health |
2.2 |
160.2 |
156.5 |
+
2.4 |
146.4 |
+
9.4 |
|
9. |
Recreation & Entertainment |
1.2 |
175.0 |
174.4 |
+
0.3 |
171.7 |
+
1.9 |
|
10. |
Transportation |
1.2 |
248.6 |
247.9 |
+
0.3 |
239.9 |
+
3.6 |
|
11. |
Education |
1.5 |
210.5 |
208.2 |
+
1.1 |
198.3 |
+
6.2 |
|
12. |
Miscellaneous Goods and Services |
2.0 |
160.5 |
160.3 |
+
0.1 |
156.1 |
+
2.8 |
|
TOTAL -
ALL ITEMS INDEX |
100.0 |
239.3 |
232.3 |
+ 3.0 |
229.2 |
+ 4.4 |
|
The yearly price increases i.e. annual rate of inflation (January to January 1997 - 2003) for the last six years as well as movement in group indices from January 2000 to January 2003 are shown in the diagrams below:
