For the first time in the year, the consumer price index, which measures inflation, increased in April by 11.37 percent.
This represents 0.12 percent points higher than the 11.25 percent recorded in March 2019, the National Bureau of Statistics (NBS) said on Wednesday.
The inflation rate, which rose to 11.44 percent in December from 11.28 percent in November, declined for three straight months since January.
On month-on-month basis, the headline index increased by 0.94 percent in April 2019, this is 0.15 percent rate higher than the rate recorded in March 2019 (0.79) percent.
The percentage change in the average composite CPI for the twelve months period ending April 2019 over the average of the CPI for the previous twelve months period was 11.31 percent, showing 0.09 percent point from 11.40 percent recorded in March 2019.
The food inflation sub-index chiefly contributed to the upsurge in the headline inflation rate with increments seen in both the m/m (up 0.26% to 1.14%) and y/y (up 0.25% to 13.34%) fronts. Notably, the m/m movement in the food sub-index crossed the 1.0% threshold to settle at 1.14% for the first time since Sep-18.
It said the rise in the food index was caused by increases in prices of meat, fish, oils and fats, bread and cereals, milk, cheese and egg, yam and other tubers, fruits and vegetables.
On month-on-month basis, the report said the food sub-index increased by 1.14 percent in April, up by 0.26 percent points from 0.88 percent recorded in March.
The average annual rate of change of the food sub-index for the twelve-month period ending April over the previous twelve-month average was 13.34 percent.
The bureau, however, said increases were recorded in all classification of individual consumption by purpose (COICOP) divisions that yielded the headline index.
On month-on-month basis, it said the headline index increased by 0.94 percent in April, this was 0.15 percent rate higher than the rate recorded in March (0.79) percent.
The bureau said the percentage change in the average composite CPI for the twelve months period ending April over the average of the CPI for the previous twelve months period was 11.31 percent.
The bureau said the figures showed 0.09 percent point from 11.40 percent recorded in March.
In addition, it said the urban inflation rate increased by 11.70 percent (year-on-year) in April from 11.54 percent recorded in March.
It also said the rural inflation rate increased by 11.08 percent in April from 10.99 percent in March, 2019.
Analysts at United Capital said the extent of the rise in inflation outcomes were generally unexpected but they had earlier indicated an expectation for an upturn in the food inflation sub-index as the country gets deeper into the planting season.
To analysts at Cordros Securities, the April reading “missed our estimate by 14 bps. On a month-on-month basis, the headline index rose faster by 0.97% (March 2019: 0.79%) – highest month-on-month jump since September 2018”.