This marks a 0.24 percentage point rise from the May 2024 rate of 33.95%.
On a year-on-year basis, the headline inflation rate surged by 11.40 percentage points, up from 22.79% in June 2023. This significant increase highlights the persistent inflationary pressures affecting the economy.
Food inflation hits 40.87%
One of the primary drivers of this overall inflation is the rise in food prices. The food inflation rate in June 2024 reached 40.87% on a year-on-year basis, which is 15.62 percentage points higher than the 25.25% recorded in June 2023.
