In October 2024, the Headline inflation rate was 33.88% relative to the September 2024 headline inflation rate of 32.70%. Looking at the movement, the October 2024 Headline inflation rate in creased by 1.18% points compared to the September 2024 Headline inflation rate. On a year-on-year basis, the Headline inflation rate was 6.55% points higher than the rate rec orded in October 2023 (27.33%). This shows that the Headline inflation rate (year-on-year basis) increased in October 2024 when compared to the same month in the preceding year (i.e., October 2023).

Furthermore, on a month-on-month basis, the Headline inflation rate in October 2024 was 2.64%, which was 0.12% higher than the rate recorded in September 2024 (2.52%). This means that in October 2024, the rate of increase in the average price level was higher than the rate of increase in the average price level in September 2024. 

Data source: National Bureau of Statistics

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