Inflation falls for first time in 15 months
Information to this effect was provided by the National Bureau of Statistics (NBS) citing the Consumer Price Index (CPI).
Nigeria's central bank Governor Godwin Emefiele speaks during the monthly Monetary Policy Committee meeting in Abuja, Nigeria.
Information to this effect was provided by the National Bureau of Statistics (NBS) citing the Consumer Price Index (CPI).
“On a Headline basis, the Consumer Price Index (CPI) which measures inflation increased by 17.78 percent (year-on-year) albeit at a slower pace in February 2017, 0.94 percent points lower from the rate recorded in January (18.72) percent,” the NBS said on Tuesday, March 14.
“This represents the first time in 15 months that the headline CPI has declined on year on year basis representing the effects of slower rises in already high food and non-food prices and favourable base effects over 2016 prices,” it added.
ADVERTISEMENT
ALSO READ: Naira now selling at N470 to the dollar
Despite the drop however, Nigeria recorded price increases in “housing, water, electricity, gas and other fuel, education, food and alcoholic beverages, clothing and frontware and transportation services.”
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Why our plane made emergency landing at Lagos airport, Air Peace clarifies
Over 75% of Katsina children are multidimensionally poor – UNICEF
PDP unveils 200-member campaign council for Ighodalo's guber election in Edo
Tinubu approves resumption of repair work on Third Mainland Bridge
Ondo Poll: Ganduje consoles Jimoh Ibrahim after crushing defeat in APC primary
FG to review recent price hike of DStv, GOtv packages amid public outcry
BREAKING: FG grants Air Peace right to commence Abuja-London flights - Keyamo
Deputy who dumped Akeredolu clinches PDP governorship ticket
Gov inaugurates 2nd phase of palliative distribution to poor Enugu residents
ADVERTISEMENT