The National Bureau of Statistics (NBS) on Tuesday released the Consumer Price Index (CPI), which measures inflation. The CPI showed that the index had dropped to 11.25 per cent (year-on-year) in March 2019. The NBS in the report explained that the 11.25 per cent year-on-year inflation rate was 0.06 per cent points lower than the 11.31 per cent recorded in February 2019. On a month-on-month basis, the report stated that the index increased by 0.79 per cent in March, adding that this was 0.06 percentage points higher than the 0.73 per cent recorded in February. The CPI is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food and medical care. It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them. The CPI, along with the population census, is one of the most closely watched national economic statistics.
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