Inflation declines 4.1 percent in November
Nationwide inflation in November 2019 determined under the National Consumer Price Index (NCPI) declined to 4.1 percent from 5.6 percent recorded in October on a year-on-year basis, the Department of Census and Statistics reported Monday. The NCPI for all items for the month of November 2019 increased to 132.9 from 131.9 in October.
The increase in the index point by 0.42 percent was due to the expenditure value increase of food items by 0.37 percent and an expenditure value increase of non-food items by 0.05 percent. The Year-on-Year inflation of the food group has decreased from 7.3 percent in October 2019 to 4.0 percent in November 2019 and that of the non-food group has also decreased from 4.3 percent to 4.2 percent during the month.
Contributions to the inflation in November 2019 from the food group and non-food group are 1.76 percent and 2.34 percent respectively. The moving average inflation for the month of November 2019 is 3.0%. The corresponding rate for the month of October 2019 was 2.8%.