Nigeria’s Inflation Drops to 12.48% in April

Nigeria’s Consumer Price Index which measures inflation dropped from 13.34 per cent in March to 12.48 per cent in April, according to a report by the National Bureau of Statistics (NBS) on Tuesday.

The NBS said this in the CPI report, that this was the 15th consecutive months that the inflation rate would be experiencing continuous decline.

The report reads in part, “The Consumer Price Index which measures inflation increased by 12.48 per cent (year-on-year) in April 2018.

“This is 0.86 per cent points less than the rate recorded in March 2018 (13.34) per cent and represents the fifteenth consecutive disinflation since January 2017.

“On a month-on-month basis, the Headline index increased by 0.83 per cent in April 2018, up by 0.01 per cent points from the rate recorded in March.”

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