Nigeria’s Inflation Rate Drops To 8.6%

Posted by: Channels Television Posted date: April 18, 2013 Reactions

Nigeria’s inflation rate fell to the lowest in almost five years in March as the impact of higher fuel prices a year ago fell out of the calculation.
According to figures from the National Bureau of Statistics (NBS), the Consumer Price Inflation (CPI) which measures inflation eased to 8.6 per cent from 9.5 per cent in February.
The core inflation rate, which excludes agricultural produce, rose 7.2 per cent in March from a year earlier, down from 11.2 per cent in February.
Food inflation eased to 9.5 per cent from 11 per cent.
The Governor of the Central Bank of Nigeria (CBN) governor, Lamido Sanusi predicted in March that inflation will remain between 9 and 11 per cent this year.