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Inflation slows to 12.1 per cent in November

18th December 2012
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The country’s year-on-year inflation rate fell for the eleventh straight month in November to 12.1 percent from 12.9 percent in October, due to a slower rise in food prices, official data released by the National Bureau of Statistics (NBS) showed yesterday.

Figures released by NBS showed the annual food and non-alcoholic drink prices dropping to 13.4 per cent in November from 14.9 per cent in October.

The central bank has said it expects headline inflation to reach 10 percent by the year's end and fall into single digits by the end of the financial year in mid-2013.

Year-on-year inflation fell to 12.9 percent in October from 13.5 percent in September.

 

SOURCE: THE GUARDIAN