June 2007 Inflation Report ReleasedThe CPI in June 2007 rose by 3.0% compared to the June 2006 CPI, which is traced to increases in the average prices of all major categories, except housing. This is, however, lower than the 4.6% year-on-year inflation rate recorded in March 2007.
The CPI in June 2007 was also higher by 0.1% compared to the March 2007 CPI as all categories posted increases except for housing. This quarter-on-quarter inflation rate is also lower than the 1.9% recorded in March 2007.
The CPI in the fist two quarters of the year averaged 147.4, thus resulting to an average inflation rate of 3.7%. This implies that the 3.6 percent forecast for 2007 is within reach.
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