September 2019 Annual Inflation Rate Rises to 11.24% as Food Inflation Jumps to 13.51% amid Border Closure

October 15, 2019/Cowry Asset

Freshly released September inflation report showed that headline inflation rate rose to 11.24% year-on-year (from 11.02% in August 2019), a sharp reversal, and the highest in three months. We expect annual inflation rate to increase further in October as food prices, especially the cost of rice, increase amid border closure. However, we feel the increase will be limited as harvest season creeps in).

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