Federal finance and statistics / National Bureau of Statistics

CPI and Inflation Report August 2024

Executive Summary In August 2024, the headline inflation rate further eased to 32.15% relative to the July 2024 headline inflation rate of 33.40%. Looking at the movement, the August 2024 headline inflation rate showed a decrease of 1.25% points when compared to the July 2024 headline inflation rate. However, on a year-on-year basis, the headline inflation rate was 6.35% points higher compared to the rate recorded in August 2023 (25.80%). This shows that the headline inflation rate (year on-year basis) increased in August 2024 when compared to the same month in the preceding year (i.e., August…