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Breaking: Nigeria's inflation drops again in January as food price gets better in market

Breaking: Nigeria's inflation drops again in January as food price gets better in market

For the 12th consecutive time, the Consumer Price Index (CPI) which measures inflation, revealed that inflation declines by 15.13% compared to 15.37% in Dec 2017.

This was disclosed in a National Bureau of Statistics (NBS) report published on the bureau's website on Wednesday, February 14.

The NBS in a statement said: "The Consumer Price Index (CPI) which measures inflation started the year 2018 increasing by 15.13 percent (year-on-year) in January 2018. This was 0.24 percent points lower than the rate recorded in December (15.37 percent) making it the twelfth consecutive disinflation (slowdown in the inflation rate though still positive) in headline year on year inflation since January 2017.

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Breaking: Nigeria's inflation drops again in January as food price gets better in market

Breaking: Nigeria's inflation drops again in January as food price gets better in market

Breaking: Nigeria's inflation drops again in January as food price gets better in market

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Breaking: Nigeria's inflation drops again in January as food price gets better in market

"Increases were recorded in all COICOP divisions that yield the Headline Index.

"On a month-on-month basis, the Headline index increased by 0.80 percent in January 2018, 0.21 percent points higher from the rate of 0.59 percent recorded in December 2017.

"The percentage change in the average composite CPI for the twelve-month period ending January 2018 over the average of the CPI for the previous twelve-month period was 16.22 percent, showing 0.28 percent point lower from 16.50 percent recorded in December 2017."

Meanwhile, Legit.ng had reported that Nigerian power stations generated 94,627 megawatts per hour (MWh) of energy daily in the fourth quarter of 2017, according to the National Bureau of Statistics (NBS).

The bureau’s website on Thursday, February 8, in Abuja showed that daily energy generation attained a peak of 105,152 megawatts on December 8.

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Source: Legit.ng

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