Inflation projected to increase in September
(WorldNews Business)

Inflation peaked after four months of consistent decline to 12.3 per cent in August, representing a 0.40 percentage point rise from previous month readings of 11.9 per cent. This was due to inflation pressures from rising petroleum prices, new taxes and base effects on the CPI. Inflation at the food and non-alcoholic beverages settled at 7.4 per cent as against 7.2 per cent in July. Inflation at the non-food sector also rose from 14.2 per cent in July to 14.7 per cent in August. Advertisement In spite of the rise, general inflation outlook is still positive but expected to increase marginally in September as demand for crude oil catches up with global supply. A potential shock from the...