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Inflation down to 8.02%

Business Section

By FAITH SHONGWE - swazi times-15-Jun-2009

MBABANE - Lower rates of change in food for May has resulted in the decrease in the inflation rate for the month.

The headline inflation rate for May, for the country, decreased from 8.81 per cent observed in April to 8.02 per cent in May.

According to the Central Statistical News for May 2009, this rate of inflation is 0.79 percentage points lower than the corresponding annual rate of 8.81 per cent observed in April 2009.

Headline inflation refers to the annual percentage change in consumer price index (measure of the average change in prices of a fixed market basket of goods and services) for a given time period.

“The Headline inflation rate for May 2009 for the country is 8.02 per cent. This annual rate of inflation is 0.79 index points lower than the corresponding annual rate of 8.81 per cent observed in April 2009. The monthly percentage change in the Consumer Price Index (CPI) in May compared with that of April is 1.26 per cent,” reads the report in part. The report also says the lower headline inflation was due to the decrease in annual rates of change reflected during the focus month in the price indices for restaurants, hotels and food.

“The rate of change in restaurants and hotels decreased from 16.21 per cent in April to 16.08 per cent in May; the rate of change in food decreased from 13.52 per cent in April to 12.79 per cent in May; the rate of change in alcoholic beverages and tobacco decreased from 10.27 per cent in April to 9.86 per cent in May; the rate of change in housing, water, electricity, gas and other fuels decreased from 7.57 per cent in April to 5.97 per cent in May,” reads the report in part.

On another note the report says the decreases in the rate of change for restaurants and hotels food alcoholic beverages and tobacco housing, water, electricity, gas and other fuels were slightly counteracted by an increase in the price indices for miscellaneous goods bad services whose rate of change increased from 3.56 per cent in April to 4.43 per cent in May and recreation and culture whose rate of change increased from 2.14 per cent in April to 2.35 per cent in May.


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