Nigeria Inflation Rate Hits 7-Month Low of 11.25%


Nigeria's annual inflation rate edged down to 11.25 percent in March 2019 from 11.31 percent in the previous month. It is the lowest inflation rate since August last year, as prices rose slightly less in most of categories.

Year-on-year, inflation slowed a bit for food (13.45 percent vs 13.47 percent in February); housing & utilities (7.19 percent vs 7.24 percent); transport (9.39 percent vs 9.57 percent); furnishings & household equipment maintenance (9.49 percent vs 9.59 percent); education (9.46 percent vs 9.64 percent); health (9.63 percent vs 9.69 percent); miscellaneous goods & services (9.06 percent vs 9.25 percent); restaurants & hotels (8.82 percent vs 9.04 percent); alcoholic beverages, tobacco & kola (10.30 percent vs 10.32 percent) and recreation & culture (8.56 percent vs 8.66 percent). 

In contrast, cost advanced further for clothing & footwear (4.08 percent vs 4.05 percent) and communication (7.51 percent vs 7.43 percent).

Annual core inflation, which excludes price of volatile agricultural products, dropped to 9.46 percent in March from 9.80 percent in February, hitting its lowest level since January 2016.

On a monthly basis, consumer prices went up 0.79 percent, following a 0.73 percent gain in the previous month. Prices continued to advance mainly for food (0.88 percent vs 0.82 percent); housing & utilities (0.64 percent vs 0.51 percent); clothing & footwear (0.72 percent vs 0.71 percent) and transport (0.69 percent vs 0.68 percent).

Nigeria Inflation Rate Hits 7-Month Low of 11.25%


National Bureau of Statistics | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
4/16/2019 8:27:48 AM