Just In: Inflation Slows To 12.48% In April - NBS
The price of goods and services has been on a free-fall since January last 2017.
In the month of April,
Nigeria’s annual inflation dropped again to 12.48%, compared with 13.34% in
According to the April Consumer Price Index, CPI released by the National Bureau of Statistics, NBS on Tuesday, a separate food price index also slowed in April as it showed inflation at 14.80%, compared with 16.08% in March.
“The CPI which measures inflation increased by 12.48% (year-on-year) in April 2018, this is 0.86% points less than the rate recorded in March 2018 (13.34%) and represents the fifteenth consecutive disinflation since January 2017,” NBS said.
On a month-on-month basis, the Headline index increased by 0.83% in April 2018, down by 0.01% points from the rate recorded in March 2018.
“The percentage change in the average composite CPI for the twelve-month period ending April 2018 over the average of the CPI for the previous twelve-month period was 15.20%, showing 0.40%,” NBS added.
Meanwhile, for those that live in the cities, “the urban inflation rate slowed by 12.89% (year-on-year) in April 2018 from 13.75% recorded in March, while the Rural inflation rate also eased by 12.13% in April 2018 from 12.99% in March”.
On month-on-month basis, the urban index rose by 0.85% in April 2018, down by 0.01% from 0.86% recorded in March, while the rural index also rose by 0.82% in April 2018, recording no change from the figure obtained in March (0.82%).
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