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 March.

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.

Also Read: How Low Food Prices Helped Keep Nigeria Inflation Down

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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