Nigeria: Food Price Hike Pushes Inflation to 12.1 Percent

26 April 2012

Increase in prices of food as well as hike in prices of other commodities in the economy pushed the Composite Consumer Price Index (CPI), which measures inflation to 12.1 per cent year-on-year in March as against 11.9 per cent in February.

Headline inflation had declined to 11.9 per cent in February from 12.6 per cent in January, yielding credence to Central Bank of Nigeria (CBN)'s monetary control mechanisms. But that relief was only transient as it jumped 0.2 per cent to 12.1 per cent in the month under review.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.