In June 2024, the headline inflation rate climbed to 34.19%, up from 33.95% in May 2024. This reflects an increase of 0.24 percentage points compared to the previous month affecting consumer’s purchasing power further.
On an annual basis, the inflation rate for June 2024 was 11.40 percentage points higher than the 22.79% recorded in June 2023. This indicates a significant year-on-year increase in the headline inflation rate for June 2024 compared to June 2023.
Additionally, the month-on-month headline inflation rate for June 2024 was 2.31%, which is 0.17 percentage points higher than the 2.14% recorded in May 2024. This shows that the rate of increase in the average price level was higher in June 2024 compared to May 2024.
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