The average prices of goods and services in the market have doubled since February last year, the National Bureau of Standards has said.
It says the annual growth in the prices increased by 200% over this period compared to 8.5% between 2014 and 2015.
In its recent assessment, the NBS says there was a sharp increase in the prices of food and non-alcoholic beverages.
The bureau also says the prices increased by almost 20 percent since February this year.
It says this increase was mainly caused by higher prices of bread and cereals.
In the evaluation, the NBS warned that that the figures are subject to variation because of seasonal products entering and exiting the markets.