Nigeria: Inflation Drops Further to 13.34 Percent

12 April 2018

Abuja — For the 14th consecutive month since January 2017, inflation rate has continued a downward trajectory, declining from 14.33 per cent in February 2018 to 13.34 per cent in March.

This represents a 0.99 per cent points decline over the rate recorded in February.

According to the National Bureau of Statistics (NBS), the Consumer Price Index (CPI), which measures inflation increase, stood at 13.34 per cent (year-on-year) in March 2018.

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 per cent).

The "All Items less Farm Produce" or Core inflation, which excludes the prices of volatile agricultural produce, rose by 11.2 per cent in March 2018, down by 0.5 per cent points from the rate recorded in February (11.7) per cent.

More to come...

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