The National Bureau of Statistics (NBS) has released its latest Consumer Price Index (CPI) report for September 2023, revealing a notable increase in inflation.
The new figures indicate that inflation has risen to 26.72%, marking a 0.92 percentage point increase compared to the previous month’s rate of 25.80%.
This surge in inflation can be attributed primarily to the removal of petrol subsidies and the devaluation of the official exchange rate, both of which have had a significant impact on consumer prices in the country.
The month-on-month data shows that inflation increased by 2.18% in September, representing a 1.08% difference from the previous month of August.