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Tuesday, February 7, 2023

SSL Says: Inflation Hitting Sierra Leone

HomeAYV NewsSSL Says: Inflation Hitting Sierra Leone

SSL Says: Inflation Hitting Sierra Leone


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 The press release further stated that the national year-on-year inflation increased from 18.22 percent in August to 19.23 percent in September.

“Again, the year-on-year inflation increased in the Southern Region from 20.53 percent in August, 2018 to 21.35 percent in September, 2018. In Western Area from 17.18 percent in August, 2018 to 18.01 percent in September, 2018,Northern region from 19.18 percent in August, 2018 to 20.69 percent in September, 2018 and in Eastern region from 16.90 percent in August, 2018 to 17.80 percent in September 2018,” the release stated.

Furthermore, according to the release, the Southern Region year-on-year inflation rate was above both the other regions and national inflation rates.

“This shows that the Southern Region is still taking the lead in the year-on-year inflation followed by the Northern region. The year-on-year inflation rates in all the regions have slightly increased in the month of September, 2018 when compared to August, 2018,” the release adds.

The release indicated that the monthly price inflation of 1.64 percent reflects a general increase in the price level in all the four regions and that it affects the components in the CPI basket.

According to SSL, all prices collected were the prevailing retail market prices from six (6) markets in Freetown and three (3) markets each in Bo, Kenema, Makeni, and Kono for weekly prices and other outlets for monthly items whose prices were less likely to fluctuate rapidly.

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