Comesa year-on-year inflation increases

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THE Common Market for Eastern and Southern Africa (Comesa) year-on-year inflation rate as measured by the Harmonised Consumer Price Index (HCPI) stood at 10,7% for the month of March compared to 9,8% the previous month.

BUSINESS REPORTER

The HCPI is an indicator of inflation and price stability in the region.

During the first quarter, Sudan had the highest year-on-year inflation rate of 27,1% followed by Malawi with an annual inflation rate of 19,9% while Rwanda recorded the least annual inflation rate of -3,3%.

In February 2015, Rwanda had the lowest year-on-year inflation figure followed by Zimbabwe, while Sudan had the highest rate of inflation in the region, which is above the region’s average.

The participating member States that contribute to HCPI-Comesa registered the following rates of total inflation March 2015 compared to March 2014: Burundi (+7,3%); Democratic Republic of Congo (+0,8%), Egypt (+11,4%); Ethiopia (+10,1), Kenya (+6,8%);,Madagascar (+8,3%); Malawi (+19,9%), Mauritius (+1,6%), Rwanda (-3,3%), Seychelles (+7,3%). Sudan was (+27,1%); Swaziland (+4,5%), Uganda (+2,8%), Zambia (+7,7%) and Zimbabwe (-1,0%).

The HCPI-Comesa comprises of 12 divisions of expenditure and the figures are in comparison with the same period in March 2014.

The region recorded food and non-alcoholic beverages (+10,1%), alcoholic beverages and tobacco (+26,1%), clothing and footwear (+8,0%), housing, water, electricity, gas and other fuels (+15,9%).

Furnishings, household equipment and routine household maintenance contributions were at (+4,6%),health (+3,9%), transport (+9,0%), communication (+1,3%), recreation and culture (+15,3%), education(+21,3%), restaurants and hotels (+12,1%), and miscellaneous goods and services (+3,0%).