The Consumer Price Index (CPI) rose 5.60 percent year-on-year in January 2022, according to data released by National Bureau of Statistics (NBS) on Tuesday.
CPI measures the rate of increase in the price of goods and services over time.
The latest figure is 0.87 percent points lower than the rate recorded in January 2021 (16.47) percent.
The report said increases were recorded in all COICOP divisions that yielded the headline index.
The report states, “On month-on-month basis, the Headline index increased to 1.47 percent in January 2022, this is 0.34 percent points lower than 1.82 percent recorded in December 2021,” the report reads.
“The percentage change in the average composite CPI for the twelve-month period ending January 2022 over the average of the CPI for the previous twelve-month period was 16.87 percent, showing 0.08 percent point from 16.95 percent recorded in December 2021.”
