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annual core inflation rate, which stood at 3.3% for the 12 months ending in August 2023. This figure is noticeably lower than the 3.8% reported for the year that ended in July 2023.
One of the primary catalysts behind the moderation in the annual core inflation rate can be linked to the category termed “Annual Other Goods.” The inflation rate for these particular goods reached 4.4% for the year concluding in August 2023, which marks a decrease from the 4.8% observed in July 2023.
For instance, the inflation rate for rice exhibited a decline from 24.6% in July 2023 to 17.8% in August 2023. Similarly, Maize Flour inflation experienced a substantial drop from 6.9% in July 2023 to 1.0% in August 2023.
Another notable change was observed in the inflation rate of dried kapenta (Mukene), a widely consumed dried fish product. This particular inflation rate decreased from 37.3% in July 2023 to 22.3% in August 2023. Furthermore, the inflation rate for groundnuts (pounded) underwent a significant reduction from 16.2% in July 2023 to 4.4% in August 2023.
