Inflation: Bureau Says Nigeria’s Rate Hits 11.31% In February - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 4
March 15, 2019
TheNational Bureau of Statistics, NBS says the Consumer Price Index, CPI whichmeasured inflation decreased to 11.31 per cent year-on-year in February from11.37 per cent recorded in January.
The NBSmade this known in its “CPI and Inflation Report’’ for February released inAbuja on Friday on its website. The bureau said the figure was 0.06 per centpoints lower than the 11.37 recorded in January in the period under review.
It saidthe increases were recorded in all Classification of Individual Consumption byPurpose divisions that yielded the Headline index.
On amonth-on-month basis, it said the headline index decreased to 0.73 per cent inthe period under review by 0.01 per cent points from 0.74 per cent recorded inJanuary.
It saidthe percentage change in the average composite CPI for the 12 months periodended December over the average of CPI for the previous 12 months period.
The bureausaid the urban inflation rate decreased to 11.59 per cent year-on-year from11.66 per cent recorded in January of the same year.