Saturday 20 October 2018
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3 months ago

DOF: July inflation likely hit 5.3%

The inflation rate in July likely rose to 5.3 percent year-on-year, the highest in more than five years, mainly on the back of higher cigarette prices, although the average increase in consumer prices that month was slower than in June, the Department of Finance said yesterday. The rate of increase in prices of basic goods in July was seen faster than the 2.4 percent posted in the same month last year, the lowest monthly headline inflation rate in 2017, hence a low base. In an economic bulletin, Fin

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