BREAKING: Inflation Rate Drops To 13.34%
It seems the Nigeria economy which hitherto was looking very bleak, has started to pick up.
The National Bureau of Statistics on Thursday said the country’s Consumer Price Index which measures inflation rose by 13.34 per cent (year-on-year) in March 2018.
The bureau in the report said the 13.34 per cent rate for March is 0.99 percentage points less than the 14.33 per cent recorded in February.
The report said this is the fourteenth consecutive months since January 2017 that the country would be experiencing slowdown in inflation.
It reads in part, “The Consumer Price Index which measures inflation increased by 13.34 per cent (year-on-year) in March 2018.
“This fourteenth consecutive disinflation since January 2017 is 0.99 percent points less than the rate recorded in February 2018 (14.33) per cent.
“The Composite Food Index rose by 16.08 per cent (year on year) in March 2018, down from the rate recorded in February (17.59 percent).”
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