The Central Statistical Office through its monthly survey on consumer prices today announced that the annual rate of inflation, as measured by the all items Consumer Price Index (CPI), was recorded at 10.9 percent as at May 2008. This rate is 0.8 percentage points higher than the April rate of 10.1 percent. Compared with the same period last year, the annual rate of inflation declined by 0.9 percentage points, from 11.8 percent in May 2007 to 10.9 percent in May 2008.
The May 2008 inflation rate of 10.9 percent means that prices as measured by the all items Consumer Price Index (CPI) increased by an average of 10.9 percent between May 2007 and May 2008.