21 June 2023 03:57 pm Views - 586
National inflation as measured by National Consumer Price Index (NCPI) eased to 22.1 percent in May on a year-on-year (YoY) basis from 33.6 percent in April.
The food inflation in May decelerated to 15.8% from 27.1 percent in April while non-food inflation declined to 27.6 percent from 39 percent.
The significant reduction in the rate of inflation in May is largely due to higher base effects that prevailed last year.
The Central Bank expects inflation to retreat to single-digit levels by the end of this year.