Inflation hits 21.34%, food rate increases in December 2022

Looking at the trend, December 2022 inflation rate showed a decline of 0.13% when compared to November 2022 inflation rate. However, on a year-on-year basis, the headline inflation rate was 5.72% points higher compared to the rate recorded in December 2021, which was (15.63%).

This shows that the headline inflation rate increased in the month of December 2022 when compared to the same month in the preceding year (i.e., December 2021).

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