Nigeria’s Inflation Rate Dropped To 14.3% In February, Says NBS
Nigeria’s Inflation rate as measured by the Consumer Price Index (CPI) has dropped from 15.13 per cent in January to 14.33 per cent in February.
The National Bureau of Statistics (NBS) disclosed this in its CPI report for February released on Wednesday in Abuja.
The Bureau said the figure showed 13 consecutive reductions in inflation rate since January 2017.
According to the NBS, this figure is 0.8 per cent less than the rate recorded in January (15.13) per cent.
The NBS, however, said the increases were recorded in the Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the headline index.
On month-on-month basis, it stated that the headline index was 0.79 per cent in February, but the figure was down by 0.01 per cent from the rate recorded in January.