Inflation declines for the first time in 15 months

Posted by News Express | 15 March 2017 | 1,890 times

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Nigeria’s headline inflation has declined for the first time in 15 months, showing 17.78 percent year on year in February, from 18.72 percent posted in January.

According to the latest report released by the National Bureau of Statistics (NBS) on Tuesday, food inflation rose to 18.53 percent year-on-year from 17.82 percent and 1.99% month-on-month from 1.29 percent in January.

Core inflation declined to 16.0 percent year-on-year in February from 17.9 percent.

Urban inflation fell to 18.57 percent year-on-year from 20.31 percent, while rural inflation dipped to 16.98 percent from 17.34% in January. (Channels TV)

Source: News Express

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