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
Table – Inflation rates
| Year | Quarter | Annual Inflation | Quarterly 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 |
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
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 |
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
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 |
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