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Inflation Decline To 12.48% in April, Consumer Price Index Shows

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Inflation Decline To 12.48% in April, Consumer Price Index Shows

The Consumer Price Index which measures changes in the price level of consumer goods and services purchased released on Tuesday by the National Bureau of Statistics has revealed that inflation rate dropped from 13.34 percent in March to 12.48 percent in April.

Nigeria Records 15th consecutive Disinflation Since January 2017

Inflation Decline To 12.48% in April, Consumer Price Index Shows

Inflation Decline To 12.48% in April, Consumer Price Index Shows

The Consumer Price Index which measures changes in the price level of consumer goods and services purchased released on Tuesday by the National Bureau of Statistics has revealed that inflation rate dropped from 13.34 percent in March to 12.48 percent in April.

The CPI showed that the rate recorded is 0.86 percent points less than the rate recorded in March 2018 (13.34) percent. The bureau, in the report, said this was the 15th consecutive month that the inflation rate would be experiencing a continuous decline.

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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 percent points less than the rate recorded in March 2018 (13.34) percent and represents the fifteenth consecutive disinflation since January 2017.

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

Nigeria News had previously reported that the Consumer Price Index, showed that inflation rate dropped from dropped from 14.33 percent to 13.34 percent in March.

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