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SUMMARY

  • The quarterly inflation rate for the first quarter of 2024 was 0.5 percent compared to 0.2 percent for the fourth quarter of the previous year.
  • The annual inflation rate was 3.9 percent for the first quarter of 2024 compared to 4.5 percent for the fourth quarter of the previous year.
  • The average annual inflation for March 2024 is 5.1
Graph – Inflation rates
[supsystic-table-diagram id=’51’]
Table – Inflation rates
YearQuarterAnnual InflationQuarterly Inflation
Year Quarter Annual Inflation Quarterly Inflation
2021 Mar-21 3.1 3.4
2021 Jun-21 6.3 3.3
2021 Sep-21 7.5 0.4
2021 Dec-21 9.8 2.4
2022 Mar-22 8.7 2.4
2022 Jun-22 11.9 6.5
2022 Sep-22 14.2 2.4
2022 Dec-22 13.7 1.9
2023 Mar-23 12.2 1.1
2023 Jun-23 6.0 0.5
2023 Sep-23 6.2 2.6
2023 Dec-23 4.5 0.2
2024 Mar-24 3.9 0.5
Table Plugin

QUARTERLY CHANGES

The Housing group index has the biggest quarterly increase of 1.7 percent, influenced by:

  • The Cooking fuel and Electricity index which increased by 3.7 percent

The Miscellaneous group index increase by 1.2 percent, influenced by:

  • The Cleaning Materials which increased by 5.6 percent

The Transport group increased by 1.0 percent, influenced by:

  • Private transport which increased by 1.1 percent.
Graphs – Quarterly Changes by Groups
[supsystic-table-diagram id=’16’]
Table – Quarterly Changes by Groups
Group Quarterly Inflation Rate Quarter
Housing 1.7 Mar-24
Misc 1.2 Mar-24
Transport 1.0 Mar-24
Alcohol & Tobacco -0.7 Mar-24
Clothing & Textile -3.4 Mar-24
Food -4.0 Mar-24
Table Plugin

ANNUAL CHANGES

The Miscellaneous group items had the highest annual contribution to CPI which increased
by 17.2 percent, influenced by;

  • Landline call rates increased by 2.5 percent.
  • An increase of 1.2 percent in Residential internet plans
  • Cleaning materials grew by 18.2 percent
  • Entertainment grew by 8.4 percent

The Alcohol and Tobacco group increase by 6.1 percent, influenced by:

  • Alcohol increased by 11.0 percent.
  • Tobacco increased by 3.7 percent.

The Food group increased by 4.0 percent, influenced by:

  • Beverages increased 36.2 percent.
  • Sugar and sweets increased by 13.8 percent.
  • Cereals increased by 10.6 percent.
Graph – Annual Changes by Group
[supsystic-table-diagram id=’17’]
Table – Annual Changes by Group
Group Annual Inflation Rate Quarter
Misc 17.2 Mar-24
Alcohol & Tobacco 6.1 Mar-24
Food 4.0 Mar-24
Housing 3.9 Mar-24
Clothing & Textile -2.5 Mar-24
Transport -7.9 Mar-24
Table Plugin

For more information, click the buttons below to download the CPI tables and report

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