News Beyond Boundaries

Nigeria’s inflation drops to 11.25 per cent

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By Toby Prince

The National Bureau of Statistics (NBS), Tuesday, announced that the county’s inflation rate dropped to 11.25 per cent (year-on-year) in March compared to 11.31 per cent in February.

This figure was reached after thorough analysis by consumer price index (CPI) which measures inflation.

It noted that the 0.06 per cent decrease in the headline index was reflected in all the divisions that determine inflation.

According to the March CPI report, released on Tuesday, core inflation stood at 9.5 per cent in March, down by 0.3 per cent when compared with 9.8 percent recorded in February.

The composite food index, stood at 13.45 per cent compared to 13.47 per cent in the previous month.

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