Inflation reached an alarming 11.0 percent in February 2023, up from 9.0 percent in February 2022. Headline inflation for the 12 months ending February 2023 was 11.3%, compared with 5.2% for the 12 months ending February 2022. His figures come from the latest Statistics Mauritius bulletin. The situation could change this month with the implementation of new electricity tariffs. Headline inflation for the 12 months ending February 2023 was 11.1% last January, and now stands at 11.3%, compared with 5.2% for the 12 months ending February 2022.
The Consumer Price Index (CPI) increased 2.0 points, or 1.6 percent, from 128.5 in January 2023 to 130.5 in February 2023. The major factors contributing to the change in the index between January 2023 and February 2023 are as follows:
Year-over-year CORE1 inflation shows 9.6 percent in February 2023, compared with 6.1 percent in February 2022, while year-over-year CORE2 inflation was 7.0 percent in February 2023, compared with 5.8 percent in February 2022.
The headline inflation rate is calculated using the annual average method, i.e., comparing the average price level in a twelve-month period with the average level in the corresponding period of the previous twelve months.
The year-on-year inflation rate is calculated as the percentage change in the CPI in a given month relative to the CPI in the corresponding month of the previous year.
The CORE1 index excludes food, beverages, and tobacco, as well as mortgage interest on home loans, from overall inflation.
CORE2 excludes food, beverages, and tobacco; mortgage interest on home loans; electricity, gas, and other fuels; and price-controlled items from overall inflation.
