Nigeria Inflation Rate Edges Down in September



Nigerian annual inflation rate slowed slightly to 8.3 percent in September of 2014 from 8.5 percent in August, as food prices eased for the first time in six months.

Prices of food and non-alcoholic beverages increased at a slower 9.6 percent in September (9.95 percent in August) while the food alone index rose 9.7 percent (10 percent in the previous month). Additional downward pressures came from transport cost (up 6.9 percent compared with a 7.3 percent increase in August), housing (6.3 percent from 6.45 percent) and clothing and footwear (7.7 percent from 7.9 percent). 

On a monthly basis, consumer prices rose at a faster 0.55 percent, compared with a 0.48 percent increase in August, driven by higher health, transport and recreation cost. Food prices increased 0.6 percent, the same rate recorded in the previous month, with potatoes, yam, bread and cereals, meat and fruit recording the highest price increases. 

Nigeria Inflation Rate Edges Down in September


National Bureau of Statistics | Joana Taborda | joana.taborda@tradingeconomics.com
10/15/2014 12:44:02 PM