Foreign Reserves increase by USD 90 million to USD 1.9 billion in December 2022.
In addition the YoY inflation decreased for the third consecutive month to 57.2% in December 2022 says First Capital Monthly Economic Watch released yesterday.
YoY inflation of food group has decreased to 64.4% in December 2022 from 73.7% in November 2022 while Non-Food group decreased to 53.4% from 54.5% in November 2022. Decrease in inflation in November was mainly driven by the price decreases in both Food and Non-Food commodities NCPI for November 2022 too decreased to 65.0% compared to 70.6% in October 2022.
Accordingly, YoY Food inflation decreased to 69.8% in November 2022 from 80.9% in Oct 2022 while Nonfood inflation decreased to 60.4% in November 2022 from 61.3% in October 2022. The YoY inflation of CCPI for December was 57.2% and has decreased relative to the month of November. Food item prices have decreased to 64.4%YoY in December 2022 from 73.7% YoY in November2022 while the Non-Food item prices also decreased to 53.4% YoY from 54.5%YoY in Nov 2022.
The contribution from food category for YoY inflation was 22.3% while the contribution of Non-Food items stood at 35.0% mainly due to the increase in Transport, Housing, Water, Electricity, Gas & Other Fuels, Restaurants & Hotels, Miscellaneous Goods and Services, etc.
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