OCTOBER 2024 annual headline inflation rate decreased to 3.0 percent from 3.1 percent recorded in September, the National Bureau of Statistics (NBS) has stated.

A statement issued at the weekend said that the decrease occurred within a trend where the overall commodity value index went up from 112.18 for October 2023 to 115.54 during the past month.

Food and non-alcoholic beverages prices for October 2024 stagnated at 2.5 percent price rise, the same as in September, it asserted, noting that the speed of price change for commodities for the year ended October 2024 was less than what was registered for the year ended September.

Alternatively, annual inflation for all items without food and non-alcoholic beverages for October 2024 slid to 3.2 percent from 3.4 percent recorded in September.

NCPI indicates relatively stable price movement from October 2023 to October 2024, ranging from 112.18 to 115.54, with annual headline inflation over the same period remaining stable, around 3.0 to 3.2 percent, it says.

Monthly CPI values from September to October decreased from 115.88 to 115.54 with overall index decrease attributed to the price decreases on a range of items, it stated.

Wheat grains prices slid by 0.9 percent, rice by 1.7 percent, sorghum grains by 0.9 percent, wheat flour by 0.6 percent, oils and fats by 0.2 percent.

Others declining prices were registered for vegetables by 3.4 percent, round potatoes by 2.6 percent, sweet potatoes by 0.5 percent, fresh cassava by 7.2 percent, cocoyams by 4.4 percent, cooking bananas by 5.1 percent, dry cassava by 1.9 percent as well as cassava flour by 4.1 percent and sugar by 1.1 percent.

Price decrease for non-food items included women garments by 0.3 percent, men footwear by 0.1 percent, housing maintenance materials by 0.2 percent and kerosene by 3.0 percent.

Others noticed in the trend are firewood by 2.4 percent, wood charcoal by 1.2 percent, household furniture by 0.1 percent, diesel by 4.7 percent, petrol by 3.8 percent, laptop computers by 0.2 percent, television sets by 0.2 percent aside from entrance fees for recreation, sport and culture by 0.1 percent on average, it added.