Inflation rate takes upward trend, says Statistics SL

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June 25, 2018

By Alusine Sesay

Statistics Sierra Leone has in their May 2018 Consumer Price Index indicated an upward mobility in the inflation rate of the country.

“Annual consumer price inflation (year-on-year) is 16.02 percent in May 2018, up from 15.14 percent in April 2018. The monthly consumer price inflation increased by 1.31 percent in May 2018.”

According to the May Consumer price index published by Statistics Sierra Leone, food and non-alcoholic beverages inflation increased from 17.21 percent in April to 18.73 percent in May, adding that the index increased by 1.52 percentage point year-on-year.

The statistics think tank noted that housing, water, electricity, gas and other fuels increased from 7.56 percent in April to 8.66 percent in May, indicating an increase of 1.1 percentage point year-on-year.

The report indicated that the price of healthcare increased from 15.32 percent in April to 16.11 percent in May, thus indicating an increase of 0.79 percentage point year-on-year.

According to the release, prices of alcoholic beverages and tobacco increased from 19.39 percent in April to 19.99 percent in April, indicating 0.6 percentage point year-on-year increase.

The release continues that the cost of food and non-alcoholic beverages inflation increased from 0.85 percent in April to 1.58 percent in May, with 0.73 percentage point increase.

The index continues that price of alcoholic beverages and tobacco inflation increased from 1.16 percent in April to 1.28 per cent in MY, indicating an increase of 0.12 percentage.

“Housing, water, electricity. Gas and other fuels inflation increased from 0.61 percent in April to 1.34 percent in May. The index increased by 0.73 percentage point. Clothing and footwear inflation increased from 0.49 percent in April to 1.33 percent in May. The index increased by 0.84 percentage point. Transport inflation increased from 0.47 percent in April to 0.69 percent in May. The index increased by 0.22 percentage point.”

The report indicated a national monthly CPI increase from 227.58 percent in April, 2018 to 230.55 per cent in May, 2018 resulting in 1.31 percent inflation, adding that similarly, the monthly rates of inflation increased in all the regions.

“Western Area (1.34 per cent), Northern Region (1.32 per cent), Southern region (1.06 per cent) and the Eastern Region (1.47 per cent) comprising two centres, Kenema (1.0 per cent) and Kono (1.95 per cent) during the same period.”

Also, the national year-on-year inflation for May 2018, according to the release from Statistics, increased from 15.14 per cent in April, 2018 to 16.02 per cent in May, 2018.

“Again, the year-on-year of inflation increased  in the Eastern  region from 16.05  per cent in April, 2018  to 15.80  per cent in May, 2018,   in North  region  from 17.37  per cent to 18.28  per cent, in  Western Area from 12.49 per cent to 13.77 per cent and in Southern  region from 17.98  per cent   to 18.68  per cent,” the release noted.

It was observed that the western Area year-on-year inflation is below the annual national inflation while in the three other regions – East, North and South – annual inflation is above the year-on-year national inflation. The southern region is now taking the lead in the year-on-year inflation followed by the northern region, the report concluded.
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