NBS said the decrease explains that the speed of price increase for commodities in the year ending January 2016 has decreased as compared to that recorded for the year that ended December 2015.

inflation
inflation
Ephraim Kwesigabo, director of population census and social statistics at NBS, said in a news conference that the annual inflation rate for food and non-alcoholic beverages decreased to 10.7 percent in January from 11.1 percent in December 2015.

The 12-month index change for non-food products has, said Kwesigabo, slightly increased to 2.0 percent in January from 1.8 percent recorded in the previous month.

The NBS director said the annual inflation rate which excluded food and energy for January has stagnated at 2.4 percent as it was recorded in December 2015.

NBS also announced that it has changed the formula for calculating the inflation rate by reducing the weight of food in the basket of goods and services used to calculate the inflation rate from 47.8 percent to 38.5 percent. Enditem

Source: Xinhua

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