headline inflation, as measured by the National Consumer Price Index (NCPI) has
accelerated to 6.9% in April 2019 from 6.1% in April 2018, reflecting the
marked increase in non-food inflation, Central Bank governor Bakary K. Jammeh
said at the Bank’s monetary policy committee meeting, last week.
“Non-food inflation accelerated to 8.7% from 6.0% during the period under review. This is mainly as a result of the one-off increase in postal changes from D30 to D350, which led to the increase in the communication index by 60.2%,” he said.
Mr. Jammeh said food inflation decelerated to 6.3% in April 2019 from 6.4% in April 2018, reflecting the stability of the exchange rate and moderate global food prices. He added that all sub-components of food inflation decelerated with the exception of fish, milk, cheese, eggs, oil and fat.
He reiterated that the Central Bank’s core measure of inflation, which stripes out utility, energy and volatile food items decelerated to 6.0% in April 2019 from 6.6% in April 2018.