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Consumer Price Index - 3rd
1. The Consumer Price Index, which stood at 131.7 in June 2023, registered a decrease of 0.1 point (or -0.1%) to reach 131.6 in September 2023.
2. The main contributors for the net decrease in CPI from June 2023 to September 2023 were:
- lower prices of vegetables (-0.3 point), culinary herbs (-0.1 point), cooking oil (-0.1 point) and whisky (-0.1 point);
partly mitigated by;
- higher prices of some other food products (+0.1 point), motor vehicles (+0.1 point), some prepared foods (+0.1 point) and, other goods and services (+0.2 point);
3. The headline inflation rate for the twelve months ending September 2023 worked out to 9.0%, compared to 9.4% for the twelve months ending September 2022.
4. The headline inflation rate excluding “Alcoholic beverages and tobacco" for the twelve months ending September 2023 worked out to 8.8%, compared to 9.3% for the twelve months ending September 2022.
5. On the basis of past trends, recent market conditions and price changes, the headline inflation rate for calendar year 2023 is forecasted at around 7.2%, compared to 10.8% in 2022.
Ministry of Finance, Economic Planning and Development
13 October 2023