Comesa August inflation at 6,3pc

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The year on year inflation rate for the COMESA region stood at 6,3 percent for the month of August 2015 compared to 15,4 percent recorded during the same period last year.
According to the latest Common Market for Eastern and Southern Africa Consumer Price Index, the month on month inflation rate for the region stood at 0,4 percent in August, down from 0,8 percent registered in July 2015.

It was 1,4 percent in August 2014.

Zimbabwe, according to the statistics, remained one of the countries that maintained the lowest rates of month on month total recording -2,7 percent in August 2015 from -2,8 percent recorded in the previous month.

This was a slight decline as the country’s money supply continues to be relatively flat.

The COMESA HCPI is specifically designed as a macro-economic measure of monetary inflation, while some national consumer price indices including Zimbabwe’s have other purposes such as cost of living measurement.

Burundi’s inflation was at (8,1 percent), Democratic Republic of Congo (0,7 percent), Egypt (7,3 percent), Ethiopia (13,7 percent), Kenya (5,2percent), Madagascar (7,7 percent), Malawi (24,8percent), Mauritius (0,6percent), Rwanda (1,7 percent), Seychelles (6,9 percent), Sudan (13,8 percent), Swaziland (4,5 percent), Uganda (5,4 percent), Zambia (6,5 percent) and Zimbabwe (-2,7 percent).

Of the participating COMESA member states, Malawi recorded the highest month on month inflation rate of 2,1 percent while Seychelles and Zambia were second with a rate of 0,9 percent during the period under review.

On the other hand the SADC region registered relatively lower annual average rates of seven percent in 2013 and 7,4 percent in 2012.

Annual average inflation rate decreased in both regions and was relatively high in the COMESA region compared to the SADC region during the period.

The Harmonised Consumer Price Indices are produced by the COMESA Secretariat in collaboration with member states with the aim of measuring inflation in similar ways then compared directly with each other without the need for making special adjustments.