By Alpha Abu
The latest Consumer Price Index (CPI) for the month of August has indicated increased inflation rate in transportation by 9.5 percentage points. Statistics Sierra Leone in their monthly presentation of the CPI report to journalists at their Tower Hill Freetown office on Wednesday 22 September 2021 saw transport jump from 10.85 in July to 20.10 in August. The leap was attributed to the increase in the pump price of fuel in the country.
Following transport were Narcotics, Tobacco and Alcoholic Beverages which collectively experienced an increased margin of 4.6 percentage points, from 19.52 percent in July to 24.21 in August.
There was a mixed picture on the statistical data for food to which the report stated: “On a whole, food items inflation decreased by 0.52 percentage points from 15.40 percentage point from 15. 40 percent in July 2021 to 14.88 in August 2021. Most food items inflation moderately increased by a percentage or two and some even declined. Other food items like fishes and green vegetables moderately changed , but notable increses were seen among imported items like spaghetti by 43 percent ; vegetable oil, 7 percent; Nescafe classic, by 8 percent and baby food, 14 percent”.
Other sectors specifically, Communication and Miscellaneous, saw a decline in the inflation rate, the former dropping by 2.46 percentage points from 2.36 percent in July to 0.10 percent in August; the latter with a percentage point of 1.73, down from 1.13 in July to 0.60 percent in August.
The report however stated that: “August year-on year national inflation rate continues in double digit and is above the estimates of the Western region but below Eastern , Northern and Southern regions’ estimates; only Western region ((9.16 percent) registered a single digit”.
According to Statistics Sierra Leone, the annual year-on-year stood at 10.88 percent, up by 0.38 percentage point from 10.50 percent in July 2021. Monthly inflation remains 2.19 percent, up by 0.66 percentage point from 1.53 percent in July.
The Northern region experienced a downward trend, in contrast to the other three regions in the country captured in the survey that led to the compilation of the report. The Southern region jumped from 13.73 percent in July to 14.23 in August. For the Eastern region, inflation rose from 11.87 percent to 14.00 percent, whilst the Western region was up from 8.73 percent to 9.53 percent. The Northern region dropped from 10.63 percent to 9.16.
Statistician –General Osman Sankoh gave a summary of the incidences surrounding inflation. He said their office is charged with the responsibility of only evaluating the economic situations through research. The report was based on prices collected from 437 items at the retail market prices in Freetown, Bo, Kenema, Makeni and Kono. The North Western region which was created some years ago has not been included in the CPI.
Copyright © 2021 Politico Online (27/09/21)
