tendai_biti_.jpgThe country’s year on year inflation for March has risen to 3,5% from minus 0,7% the previous month on the back of marginal increases in the prices of  goods and services.

According to latest data from the  Central  Statistical Office, the increase in the year on year inflation rate means that prices as measured by the all items Consumer Price Index  increased by 3,5 %  between March 2009 and  March 2010.

The CSO revealed that inflationary pressures were mainly as a result of sharp increases in the prices of utilities such as electricity and water.

It noted that  the increase in the rate of inflation means  that for instance a basket of goods and services that used to cost US$ 100 now cost US$103,50.

Government has expressed concern about the inflationary pressures that are resurfacing within the economy amid calls for stakeholders to work on a holistic approach aimed at consolidating macro- economic gains .

The  Ministry of  Finance has also revised downwards its set key economic targets for 2010 from an annual growth rate of 7 % to 4,8 % on the back of  inadequate funds to stimulate  productive sectors of the economy.