Published On: Wed, May 16th, 2018

Nigeria’s Inflation Rate down to 12.48% -NBS

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By Etuka Sunday

National Bureau of Statistics (NBS) yesterday reported that the nation’s Inflation Rate is down to 12.48 per cent, representing fifteenth consecutive disinflation since January 2017.
The Bureau in its April, 2018 report said, “the Consumer Price Index (CPI) which measures inflation increased by 12.48 percent (year-on-year) in April 2018, this is 0.86 percent points less than the rate recorded in March 2018 (13.34) percent and represents the fifteenth consecutive disinflation since January 2017.
“Increases were recorded in all COICOP divisions that yield the Headline Index.
On a month-on-month basis, the Headline index increased by 0.83 percent in April 2018, down by 0.01 percent points from the rate recorded in March 2018,” it said.
NBS in its report said, average price per litre paid by consumers for National Household Kerosene increased by 3.53% month-onmonth and decreased by -0.82% year-on-year to N278.49 in April 2018 from N268.99 in March 2018.
It said, states with the highest average price per litre of kerosene were Abuja (N316.67), Cross River (N315.56) and Nassarawa (N309.52).
States with the lowest average price per litre of kerosene were Akwa Ibom (N247.22), Abia (N245.25) and Katsina (N244.87)
“Similarly, average price per gallon paid by consumers for National Household Kerosene increased by 3.45% month-on-month and decreased by -15.38% year-on-year to N975.82 in April 2018 from N943.27 in March 2018.
“States with the highest average price per gallon of kerosene were Jigawa (N1140.00), Yobe (N1100.00) & Kano (N1068.24).
“States with the lowest average price per litre of kerosene were Abia (N900.00), Delta (N875.00) and Rivers (N844.74),” it said.

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