September 23, 2017

Inflation rate drops for fifth consecutive time to 16.1% ─ NBS

Inflation rate drops for fifth consecutive time to 16.1% ─ NBS

The National Bureau of Statistics on Monday released the Consumer Price Index which measures inflation with the index dropping from 16.25 per cent in May to 16.1 per cent as at the end of June.

The bureau in the report made available to our correspondent in Abuja said this is the fifth consecutive decline in inflation rate since January.

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It reads in part, “The CPI which measures inflation increased by 16.1 per cent year on year in June 2017.

“This was 0.15 percentage points lower the rate recorded in May. Accordingly, this represents the fifth consecutive decline in the rate of inflation since January.”

On a month-on-month basis, the NBS report said the Headline index rose by 1.58 per cent in June 2017, representing a decline of 0.30 percentage points from 1.88 per cent recorded in May. Read more

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