Regional Annual Inflation Rate Spikes

The year on year, inflation rate in the COMESA region as measured by the Harmonized Consumer Price Index (HCPI-COMESA) stood at 49.0% for the month of May 2020, up from 43.4% registered in April 2020. A year earlier the rate was at 21.2%.

According to the latest HCPI report, the latest month on month inflation rate stood at 6.4% for the month of May 2020 down from 6.9% registered in April.

The HCPI-COMESA is an indicator of inflation and price stability for the COMESA region. It is a consumer price index which is compiled according to a methodology that has been harmonised across COMESA countries.

It is comprised of 12 divisions of expenditure which include food & non-alcoholic beverages, alcoholic beverages and tobacco, clothing and footwear, housing, water, electricity, gas and other fuels. other items are furnishings, household equipment and routine household maintenance, health, transport, communication, recreation and culture, education, restaurants and hotels, and miscellaneous goods and services.

Member States that contribute to HCPI-COMESA registered the following rates of total inflation in May 2020 compared to May 2019 Burundi (+12.2%); Democratic Republic of Congo(+8.6%);Djibouti (+1.5%); Egypt (+10.3%); Eswatini (+4.5%);Ethiopia (+22.4%); Kenya (+3.6%); Madagascar(+4.9%); Malawi(+8.6%); Mauritius(+4.7%); Rwanda (+9.5%); Seychelles (-0.6%); Sudan (+130.0%); Tunisia (+6.6%); Uganda (+2.7%); Zambia (+20.9%); and Zimbabwe (+890.5%).

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