Inflation Drops to 11.37%

By James Emejo in Abuja

The Consumer Price Index (CPI), which measures inflation, decreased to 11.37 per cent (year-on-year) in January 2019 compared to 11.44 per cent in December, according to the National Bureau of Statistics (NBS).

However, core inflation, which excludes the prices of volatile agricultural produce stood at 9.9 per cent in January, representing an increase of 0.1 percent when compared with 9.8 percent recorded in the preceding month.

According to the CPI figures for January which was released Friday by the statistical agency, urban inflation rate decreased to 11.66 per cent (year-on-year) in the review period from 11.73 per cent December, while the rural inflation rate also dropped to 11.11 per cent from
11.18 per cent in December.

Details later. . .