P
ProfRem
Guest
Nigerian Inflation rate fell for the second time in 16 months, showing the early effects of Central Bank intervention on the currency market to meet demand for dollars.
Year-on-year headline inflation dropped to 17.26 percent in March 2017 from 17.78 percent in February 2017 but month-on-month rose by 1.72 percent from 1.49 percent in the previous month, the statistics office said on Thursday..
The NBS said the second consecutive month of a decline in the headline rate represented “the effects of stabilizing prices in already high food and non-food prices”.
“It is also indicative of early effects of a strengthened naira in the foreign exchange rate market.
"A separate index showed food inflation at 18.44 percent in March from 18.53 percent in February".
Year-on-year headline inflation dropped to 17.26 percent in March 2017 from 17.78 percent in February 2017 but month-on-month rose by 1.72 percent from 1.49 percent in the previous month, the statistics office said on Thursday..
The NBS said the second consecutive month of a decline in the headline rate represented “the effects of stabilizing prices in already high food and non-food prices”.
“It is also indicative of early effects of a strengthened naira in the foreign exchange rate market.
"A separate index showed food inflation at 18.44 percent in March from 18.53 percent in February".
