Headline inflation decreased from 2.8 percent in March to 2.3 percent in April 2025, remaining below the lower bound of the medium-term objective range of 3 – 6 percent, and was lower than the 3.1 percent recorded in April 2024. The decrease in inflation between March and April 2025 was mainly on account of the deceleration in the rate of annual price changes of the transport category, emanating from the base effects associated with the increase in domestic fuel prices in April 2024, which increased headline inflation by 0.48 percentage points. Price movements were broadly stable for most categories of goods and services. Similarly, the 16 percent trimmed mean inflation decreased from 2.5 percent to 2.3 percent while inflation excluding administered prices increased marginally from 4 percent to 4.1 percent, between March and April 2025.
Inflation for domestic tradeables remained constant at 4.9 percent between March and April 2025. On the other hand, inflation for imported tradeables decreased significantly from 2.4 percent to 1.2 percent over the same period, mainly on account of base effects associated with the increase in domestic fuel prices in April 2024. Consequently, all tradeables inflation fell from 3 percent to 2.2 percent between March and April 2025. Meanwhile, inflation for non-tradeables remained constant at 2.5 percent in the same period