27.9 C
Thursday, October 21, 2021

As pepper Goes 10,000 Per Cup… Consumer Price Index Jumps to 10.5%

- Advertisement -

The July 2021 Consumer Price Index (CPI) has jumped from 10.2 in June to 10.5% in July.

According to the Deputy Statistician General, Andrew Bob Johnny during his presentation of July 2021 CPI during a press briefing at their Statistic office in Freetown, on Wednesday 18th August 2021, the key findings of July 2021 CPI showed that annual national inflation as year on year stood at 10.50%, up by 0.30% points from 10.20% in June 2021 and the monthly inflation is 1.53% up by 0.8% points from 0.65% in June, 2021.

He said from January down to July they are in double digits 11.5% then they managed to dropped a beats to 10.87% in February and further down, they made a landmark in March with single digits of 8.95% then they started having threats in April and went up a bit by 9.6%. Then in May went up again to 9.8% in June to 10.2% and now in July is 10.5%.

He disclosed that the CPI methodology or CPI inflation is a measure of the average change over time, prices speed by largely urban consumers or in markets baskets of consumers goods and services.

He spoke about their  guidelines and standard while thanking IMF and World Bank for giving a lot of support to them to make sure that they succeed in moving forward.

He disclosed further that the prizes are collected for 436 items identified in 2008 as they are still using 2008 index this year as the reference but plans to change the basket after the living standard survey which is done almost every five years.

He pointed out that all prices collected are the prevailing retail market prices and it’s also done on the weekly market outlets, 64 items, three times in the week.

“What are specific outlays for monthly and quarterly items whose prices are less likely to fluctuate rapidly, electricity, water supply, mobile, these are things we use almost every second.”

Meanwhile the people of Sierra Leone are going through serious hardship to the point that the price of basic commodities produced in Sierra Leone are now soaring with pepper going up to Le10,000 ($1).

- Advertisement -
- Advertisement -

Related news

For 50th Anniversary Performance… Mariatu Kargbo Receives Certificate

 The Founder of the Sierra Leone China Friendship Association (SiLCHA), Sierra Leone’s Cultural Ambassador to China with vast philanthropic experience, Mariatu Kargbo, the black...

US Govt. Provides Additional $1 Million COVID-19 Assistance

The United States, through the United States Agency for International Development (USAID), announced $1 mill     ion in urgent COVID-19 assistance for Sierra Leone. Equitable...

SODEIT Donates to Wellington Health Center

The Social Development International (SODEIT) Sierra Leone, with headquarters at the Wellington Muslim Association Secondary School, 109 Industrial Estate, Wellington in Freetown, last Thursday...

Ambassador Hu Calls For Joints Effort In Promoting Fair and Reasonable Deployment of Vaccine

The Chinese Ambassador to Sierra Leone H.E. Ambassador Hu Zhangliang has called on the international community to join hands in promoting fair and reasonable...
- Advertisement -


Please enter your comment!
Please enter your name here