Second Quarter Economic Performance Bulleting Issue 2/2019

The annual inflation rate in 2019 fell to 4.5% in June from the 5.1% registered in May and the 6.6% registered in April. The average inflation rate in the second quarter of 2019 was 5.4%—down from the 7.3% average registered in the first quarter of 2019 and significantly down from the 17% rate registered in the second quarter of 2018. Figure 1 below graphs the CPI and the year-on-year inflation rate from January 2018 to June 2019. As can be seen, the YoY inflation rates have significantly fallen since January 2018, reaching an all-time low for the period in June 2019. The average inflation rate for the first six months of 2019 was 6.3%, significantly lower than the 18% registered in the corresponding 2018 period.