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Slight+increase+in+October+inflation
Tuesday, 21 November 2017 - 18:21
Slight increase in October inflation
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Inflation, as measured by the change in the National Consumer Price Index, which is compiled by the Department of Census and Statistics, increased to 8.8 percent in October 2017.
 
The inflation was 8.6 percent in September 2017, on a year-on-year basis.
 
The change in the NCPI measured on an annual average basis increased from 6.8 percent in September to 7.1 percent in October.
 
When the monthly change is considered, the NCPI increased from 123.3 index points in September to 124.8 index points in October.
 
This monthly increase was mainly due to the increase in prices of the items in the Food category which was led by adverse supply-side developments.
 
Meanwhile, the NCPI Core inflation, which reflects the underlying inflation in the economy, continued to follow the declining trend exhibited since the early months of the year.
 
As such, the NCPI Core inflation decreased to 4.1 percent in October 2017 from 4.6 percent in September 2017 on a year-on-year basis.
 
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