Headline inflation as measured by the year on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100) increased to 8.1 per cent in February from 7.6 per cent in January 2020.
This was driven by statistical effects of the low base that prevailed in February 2019. Food inflation (Y-o-Y) stood at 16.3 per cent in February 2020 while Non-food inflation (Y-o-Y) was at 2.1 per cent.
The change in the NCPI measured on an annual average basis increased to 4.5 per cent in February 2020 from 4.1 per cent in January 2020. Monthly change of NCPI recorded at 0.0 per cent in February 2020.
This was due to setting off the price effects of items in the non-food category, which increased by 0.05 per cent, with the price decrease in the food category by the same magnitude. Within the Food category, prices of vegetables and rice recorded decreases in February.
However, within the Non-Food category, prices of the items in Alcoholic Beverages and Tobacco; Transport; and Clothing and Footwear sub-categories recorded increases. Continuing its decreasing trend for the fourth consecutive month, core inflation (Y-O-Y) decreased to 3.4 per cent in February from 3.9 per cent in January. Meanwhile, annual average core inflation decreased marginally to 5.5 per cent in February from 5.6 per cent in January.