Friday, October 24, 2008

Inflation rate touched 8.2 % in September

What is the impact of 8.2% high rates of inflation? The soaring price that caused higher food prices has a much bigger impact on the overall rate of inflation.

After touching a 27-year-high of 8.5 per cent in August, lower fuel prices trimmed the consumer price index (CPI) to 8.2 per cent in September compared to a year ago, the Statistics Department said today.

The CPI for the first nine months of 2008 increased by 5.2 per cent to 110.9 from 105.4 in the same period last year, Bernama reported.

The index for food and non-alcoholic beverages for September 2008 compared with the same month in 2007 showed a high percentage change of 12.3 per cent and the index for non-food increased by 6.3 per cent.

From January to September 2008, the index for food and non-alcoholic beverages and non-food registered an increased of eight per cent and 3.9 per cent respectively.

Compared with the previous month, the index for food and non-alcoholic beverages rose by 0.8 per cent while the index for non-food decreased by 0.6 per cent.

The 5.2 per cent increase in the CPI was brought about by increases observed in the indices of all the main groups except those of clothing and footwear and communication which decreased by 0.6 per cent respectively.

Notable among increases were those for transport (+9.6 per cent), food and non-alcoholic beverages (+eight per cent) and housing, water, electricity, gas and other fuels (+1.5 per cent).

1 comment:

Anonymous said...

The authority should be doing something to bring down the prices especially the food. While petrol prices going up, the food prices increasing tremendously but when the petrol prices going down, nothing happen. what the greediness of the Restaurants and food store? where the enforcing officers?