The Consumer Price Index (CPI) edged higher by 12.34% YoY for the eighth consecutive month in April 2020, representing an eight basis points (0.08%) increase from 12.26% in March 2020. The headline inflation figure settled slightly lower than our estimate of 12.35%. The upsurge in rate was sustained in both sub-components, with the food index rising by 15.03% YoY (vs. 14.98% in March 2020 YoY), while the core index rose by 0.25% to 9.98% YoY.
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