Nigeria’s annual inflation rate declined to 12.48% in April 2018 from 13.34 % in the prior month, the fifteen consecutive decline and lowest since February of 2016, in line with market expectations and analysts prediction.
The National Bureau of Statistics (NBS) disclosed this in its CPI report titled ‘CPI and Inflation Report April 2018’, released on Tuesday, May 15, 2018, in Abuja, Nigeria’s capital city.
The April headline figure represents 0.86 percent points less than the rate recorded in March 2018, which was 13.34%.
The NBS said inflation declined for the 15th consecutive time to 12.48% year on year from 13.34% in March (lowest since Feb 2016). Food inflation declined to 14.8% in April from 16.08%; Core inflation declined to 10.9% from 11.2%.