Inflation Declines Further to 12.48%

Ndubuisi Francis in Abuja

For the 15th consecutive month since January 2017, inflation rate recorded a decline in April from 13.34 per cent in March 2018 to 12.48 per cent (year-on-year).

According to latest figures released by the National Bureau of Statistics (NBS), the Consumer Price Index (CPI), which measures inflation stood at 12.48 per cent (year-on-year) in April 2018, indicating a 0.86 percentage points drop in the 13.34 per cent rate recorded in March 2018.

Also, on a month-on-month basis, the headline index increased by 0.83 per cent in April 2018, up by 0.01 percentage points from the rate recorded in March.

Details later…