[BUSINESS NEWS] INFLATION DROPS 17TH CONSECUTIVE MONTHS TO 11.23% – NBS

THE NATIONAL BUREAU OF STATISTICS SAYS THE CONSUMER PRICE INDEX, CPI, WHICH MEASURES INFLATION RATE DROPPED BY 0.37 PERCENTAGE POINTS FROM 11.61 PER CENT IN MAY TO 11.23 PER CENT IN JUNE 2018.

 

THE BUREAU SAID THIS IN IT’S CPI REPORT WHICH WAS MADE AVAILABLE TO JOURNALISTS IN ABUJA, ON MONDAY, ADDING THAT IT IS THE SEVENTEENTH MONTH SINCE JANUARY 2017 THAT THE INDEX WILL BE RECORDING CONTINUOUS DECLINE.

 

THE REPORT SAYS URBAN INFLATION RATE EASED TO 11.68 PER CENT YEAR-ON-YEAR IN JUNE, FROM 12.08 PER CENT RECORDED IN MAY, WHILE THE RURAL INFLATION RATE ALSO EASED 10.83 PER CENT IN JUNE FROM 11.2 PER CENT IN MAY 2018.