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Inflation Rate Declines to 1.1% in August 2024: Food Prices Drop, Non-Food Inflation Rises Slightly

The overall inflation rate, as measured by the National Consumer Price Index (NCPI), fell to 1.1% in August 2024, down from 2.5% in July, according to the latest data from the Department of Census and Statistics.

Food inflation also decreased to 2.3% in August, compared to 2.9% in July. However, Year-on-Year inflation for the non-food group saw a slight increase, rising to 0.2% in August from 0.2% in July.

The NCPI for all items in August 2024 stands at 204.1, reflecting a decrease of 2.8 index points from July 2024.

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Inflation Rate Declines to 1.1% in August 2024: Food Prices Drop, Non-Food Inflation Rises Slightly

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