CPI and Inflation Report September 2022

Executive Summary

In September 2022, on a year–on-year basis, the headline inflation rate was 20.77%. This was 4.14% points higher compared to the rate recorded in September 2021, which was (16.63%). This indicates that in the month of September 2022 the general price level was 4.14% higher relative to September 2021. On a month-on-month basis, the Headline inflation rate in September 2022 was 1.36%, this was 0.41% lower than the rate recorded in August 2022 (1.77%). This means that in the month of September 2022, the headline inflation rate (month–on–month basis) declined by 0.41%, relative to August 2022. The percentage change in the average CPI for the twelve month period ending September 2022 over the average of the CPI for the previous twelve month period was 17.43%, showing a 0.60% increase compared to 16.83% recorded in September 2021. 

Data source: National Bureau of Statistics