Inflation rate records first drop in 15 months

The National Bureau of Statistics on Tuesday released the Consumer Price Index, which measures inflation rate, with the index dropping year-on-year from 18.72 per cent in January to 17.78 per cent in February.

Apart from the inflation report, the NBS also released four others. They are the cooking gas price watch, Premium Motor Spirit (petrol) price watch, kerosene price watch and the diesel price watch.

The drop by 0.94 percentage points in inflation is a relief to consumers as this is the first time in 15 months that the country will witness a reduction in the price index.

The report attributed the drop in the inflation rate to slow increases recorded in food prices and other divisions.

Edited from Punch