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RBF notes increase in September inflation rate

October 28, 2018 10:57 pm

There was a slight increase in inflation rate last month which stood at 4.6 percent.

This is 0.3 percent more when compared to the inflation rate in August.

Reserve Bank governor, Ariff Ali explains “the uptick in inflation was largely due to supply shortages that drove kava and vegetable prices up relative to last year.

Higher prices were also recorded for alcohol, tobacco, and domestic fuel which rose as a result of duty changes and international fuel price adjustments.

Nevertheless, Ali says inflation is anticipated to subside to 3.5 percent next year and three percent in 2020.