ABUJA-The National Bureau of Statistics(NBS) has said that Nigeria’s headline inflation has dropped to 13.34 per cent (year on year) in March 2018.
The report which was published by the Statistician General of the Federation/CEO National Bureau of Statistics, Dr. Yemi Kale, stated that inflation dropped for 14th consecutive time from 14.33% in February.
The report noted that Month-on-Month headline inflation rose from 0.79% in February 2017 to 0.84 % in March 2018.
The Food Sub-Index drops to 16.08% from 17.59% in March 2018 and highest increase was recorded in bread and cereals, oil and fats, fruits and vegetables, coffee, tea and cocoa, milk, cheese and egg, and fish.
It also noted that Core inflation dropped to 11.2% from 11.7% with highest increase recorded in: Fuel and lubricants for personal transport equipment, maintenance and repairs of personal transport equipment, narcotics, vehicle spare parts, passenger transport by air, clearing, repair and hire of clothing, and hospital services.
The CPI measures the average change over time in prices of goods and services consumed by people for day-to-day living.