1. The Consumer Price Index, which stood at 115.3 in June 2017, registered a net decrease of 1.9 points (or 1.6%) to 113.4 in September 2017.
2. The main reasons for the decrease in the CPI from June to September 2017 were:
a) lower prices of vegetables (-2.8 points), air tickets (-0.1 point), motor vehicles (-0.1 point); partly offset by
b) higher prices of traders’ rice (+0.1 point), cigarettes (+0.6 point), gasoline (+0.2 point), and some other goods and services (+0.2 point).
3. The headline inflation rate for the twelve months ending September 2017 works out to 3.2% compared to 0.8% for the twelve months ending September 2016.
4. The headline inflation rate excluding ‘Alcoholic beverages and tobacco’ for the twelve months ending September 2017 works out to 2.0% compared to 0.5% for the twelve months ending September 2016.
5. On the basis of trends observed in previous years and recent price changes, the headline inflation rate for calendar year 2017 is forecasted at around 4.0%, compared to 1.0% for the previous year.
Ministry of Finance and Economic Development