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Inflation Drops To 16.01%, Seventh Consecutive Time Since January • Channels Television

Nigeria's GDP Falls 2.24% In 3rd Quarter of 2016

Data from the National Bureau of Statistics (NBS) has proven that inflation has skilled the seventh decline since January 2017.

Nigeria’s shopper worth index which measures inflation has trimmed to 16.01% by zero.04% within the month of August.

“Consumer worth index (CPI) which measures inflation elevated by 16.01% (year-on-year) in August 2017.

“This was zero.04% factors decrease than the speed recorded in July (16.05%) making it the seventh consecutive decline within the charge of headline yr on yr inflation since January 2017.

“The city index rose by 16.13% (year-on-year) in August 2017, down by zero.09% factors from 16.04% recorded in July, and the agricultural index elevated by 15.91% in August from 16.08%  in July,” the NBS report which was launched on Friday learn.

The information reveals that meals inflation declined to 20.25% from 20.28% in July, whereas core inflation elevated barely by one-tenth of a % to 12.30 % final month.

Also, city inflation superior to 16.13% in August from 16.04 % in July, whereas in rural elements of Nigeria dropped to 15.91% within the interval from 16.08% in July.


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