No Respite For Consumers As Inflation Rate Hits 18.72% - Business - Nairaland
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| No Respite For Consumers As Inflation Rate Hits 18.72% by ivandragon: 8:48pm On Feb 15, 2017 |
No respite for consumers as inflation rate hits 18.72% Hopes that the Consumer Price Index which measures inflation would reduce soon following promises by government were dashed as the index increased by 18 . 72 per cent (year - on - year ) in January 2017 . The National Bureau of Statistics in its CPI report which was released on Wednesday in Abuja said the 18 . 72 per cent rise in inflation rate is 0 . 17 percentage points higher than the 18 . 55 per cent recorded in December 2016 . It said , “ The Consumer Price Index which measures inflation increased by 18 . 72 per cent year - on - year in January 2017 , 0 . 17 percentage points higher from the rate recorded in December 2016 18 . 55 per cent. ” The NBS report said the fastest pace of growth in headline inflation , year on year , were seen in bread and cereals, meat, fish , oils and fats , potatoes , yams and other tubers , wine and spirits , clothing materials and accessories . Others are electricity , cooking gas , liquid and solid fuels , motor cars and maintenance , vehicle spare parts and fuels and lubricants for personal transport equipment , passenger transport by road . On a month on month basis , the NBS report said food Index increased by 17 . 82 per cent (year - on - year ) in January, up by 0 . 43 percentage points from rate recorded in December 2016 . During the month , the report said all major food sub - indexes increased , with soft drinks recording the slowest pace of increase at 7 . 8 per cent year on year . The NBS report said the urban index rose by 20 . 31 per cent (year - on - year ) in January from 20 . 12 per cent recorded in December , while the rural index increased by 17 . 34 percent in January from 17 . 20 percent in December. On month - on - month basis , the urban index rose by 1 . 03 per cent in January from 1 . 08 per cent recorded in December, while the rural index rose by one per cent in January from 1 . 04 per cent in December. http://punchng.com/no-respite-for-consumers-as-inflation-rate-hits-18-72/ |
| Re: No Respite For Consumers As Inflation Rate Hits 18.72% by Horlufemi(m): 9:01pm On Feb 15, 2017 |
Na una dey kill una sef |
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