The overall rate of inflation as measured by the National Consumer Price Index on Year-on-Year basis has reduced to 65.0% in November 2022 from 70.6% in October 2022.
The Department of Census and Statistics said the NCPI for all items for the month of November 2022 is 256.3 and it records a decrease of 0.6 in index points compared to October 2022.
The Department noted that for November 2022, Month on Month change recorded as -0.2% compared to October 2022.
The decline in the monthly change of the NCPI observed in October 2022 continued in November 2022 recording 0.27%.
This was mainly contributed by the monthly decrease of the prices of the items in the Food category, which amounted to 0.49%.
Accordingly, within the Food category, significant decreases were observed in prices of Fresh Fish, Sugar, Rice, Dry Fish and Chicken.
Nevertheless, the contribution from the Non-food category was 0.23% in November 2022 driven by the price increases observed in Clothing and Footwear, Health (Payments to Private Hospitals/Nursing Homes), Furnishing, Household Equipment and Routine Household Maintenance, and Miscellaneous Goods and Services sub-categories during the month.
However, Transport (Petrol) and Housing, Water, Electricity, Gas and Other Fuels (Materials for Maintenance) sub-categories decreased in November 2022.
Meanwhile, annual average inflation rose to 46.7% in November 2022 from 42.2% in October 2022.
The core inflation (Y-o-Y), which reflects the underlying inflation in the economy decreased to 60.1% in November 2022 from 62.4% in October 2022, while annual average core inflation increased to 40.0% in November 2022 from 35.7% in October 2022.