Naija Talk community

Ghana Lotto Results, F-t-a Satellite Technology, Sport forcast, ICT forum.
HomePublicationsFAQSearchMemberlistRegisterUsergroupsLog in

Share | 
Get paid even when you loose in the new 1960bet
Sign up for free Merrybet account

 Inflation Rate Drops For The Third Consecutive Month

View previous topic View next topic Go down 

Posts : 5599

PostSubject: Inflation Rate Drops For The Third Consecutive Month   2017-05-17, 08:05

After 15 months on the rise, the consumer price index (CPI) which measures inflation rate in the Nigerian economy has been on the decline, dropping for the third consecutive month.

According to the National Bureau of Statistics (NBS), inflation rate dropped to 17.24 percent (year-on-year) in April, declining by 0.02 percent from the figures recorded in March 2017, reports.

“This is the third consecutive month of a decline in the headline CPI rate, exhibiting effects of some easing in already high food and non-food prices, as well as favourable base effects over 2016 prices,” NBS said via its inflation report for April 2017.

“Increases were recorded in all COICOP divisions that yield the Headline Index.The top items to have recorded the highest year on year increases across all the divisions were Solid Fuels, Bread and Cereals, Meat, Liquid Fuels, Clothing materials, other articles of clothing and clothing accessories, and Fish.”

On a month-on-month basis, the headline index increased by 1.60 percent in April 2017, 0.12 percent points lower than the rate recorded in March.

On this basis, the highest rise in prices was dominated by food items including coffee, tea and cocoa, potato, yam and tubers, bread and cereals, milk cheese and eggs and meat and fish.

President Muhammadu Buhari’s Economic Recovery and Growth Plan (ERGP) aims to see inflation cut to about 15 percent by the end of 2017.
Back to top Go down
View user profile
Inflation Rate Drops For The Third Consecutive Month
View previous topic View next topic Back to top 
Page 1 of 1

Reister on merrybet
Join Ultimate Cycler and start making cool cash before it's too late

Permissions in this forum:You cannot reply to topics in this forum
Naija Talk community :: General :: News-
Ntcguys © 2012 Naija Talk Community. R-Uk Company, Inc. All Rights Reserved.