Inflation for the month of February has dropped to 14.23, indicating a 0.55% drop from that of January 2010 which was 14.78.
This is the lowest rate in 8 months and the lowest for 22 consecutive months.  According to Magnus Ebo Duncan, Director of Economic Statistics, the major contributors for the current decline were mainly in the Food sector with the fruits subsector contributing a negative figure.

 The Northern region still recorded a single digit of 7.79% which is the lowest inflation figure regionally with Central region recording the highest of 22.70%. Education also contributed the lowest for the non-food group with recreation and culture contributing the highest.

Ebo Duncan told Citi Business that the stability in the exchange rate and import prices have also contributed to the decline for the month of February. He says the utility prices could influence the inflation rate in the coming months.

“If you look at food prices at this time compared to last year, you’d see that there is a difference. Last year the prices were going faster than we have now and then if you have this stable exchange, you know that the price of imports will not have this exchange rate effect on it.”