The Nigerian Bureau of Statistics (NBS) has revealed that owing to the country's inflation drop by 11.25% in March 2019, the prices of food have fallen.
According to the report of the NBS published by its head, Yemi Kale, on Tuesday, April 16, there was an inflation drop to 11.25% in March 2019 year on year from 11.31% in February 2019.
The reports also indicates that food inflation dropped to 13.45% in March from 13.47% in February and core inflation fell to 9.50% from 9.80%.
Earlier, Legit.ng reported that Nigeria’s inflation rate declined in January 2019, from 11.44% to 11.37%, a 0.07% decrease in the period under review, according to figures released by the NBS.
The inflation rate measures how prices of goods and services rise or drop and is measured by the Consumer Price Index (CPI). It was 11.44% in December 2018.
The NBS said further the urban inflation rate increased by 11.66% (year-on-year) in January 2019 from 11.73% recorded in December 2018.
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