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Nairaland Forum / Nairaland / General / Business / Nigeria’s Inflation Drops To 16.25% In May - NBS (7960 Views)
Nigerian Consumer Inflation Edges Up To 11.4% In May – NBS / Price Of Diesel Jumps By 4.91% In May – NBS / Domestic Price Of Palm Oil Declined By 25% In 12 Months To N12,000 (2) (3) (4)
Nigeria’s Inflation Drops To 16.25% In May - NBS by dipoolowoo: 1:05pm On Jun 15, 2017 |
By Modupe Gbadeyanka Inflation rate in Nigeria eased further in the month of May to 16.25 percent from 17.24 percent in April 2017, Business Post reports. Data released on Thursday by the National Bureau of Statistics (NBS) revealed that the drop was by 0.99 percent during the period. It is also the fourth consecutive time the inflation rate was declining since January 2017, the NBS said in its latest report. On a month-on-month basis, the headline index increased by 1.88 percent in May 2017, 0.28 percent points higher than the rate of 1.60 percent recorded in April 2017, indicating the existence of persistence pressure on prices despite the general decline in year on year inflation. Month on Mont inflation has cumulatively risen by 7.7% since January 2017,” the stats agency stated. According to the report, percentage change in the average composite CPI for the 12-month period ending in May2017 over the average of the CPI for the previous 12-month period was 17.63 percent, higher from 17.59 percent recorded in April 2017. Also, the Food Index increased by 19.27percent (year-on-year) in May 2017, down by 0.03 percent points from the rate recorded in April (19.30 percent) indicating continued pressure in food prices. Price movements recorded by All Items less farm produce or Core sub-index rose by 13.00 percent (year-on-year) in May, down by 1.80 percent points from rate recorded in April (14.80) percent. This represents the 7th straight month of decline in the core index since November 2016 The Urban index rose by 16.34 percent (year-on-year) in May 2017 from 17.62 percent recorded in April, while the Rural index increased by 16.02 percent in May from 16.69 percent in April. On month-on-month basis, the urban index rose by 1.84 percent in May from 1.61 percent recorded in April, while the rural index rose by 1.92 percent in May from 1.59 percent in April. The corresponding twelve-month year-on-year average percentage change for the urban index increased from 18.98 percent in April to 18.88 percent in May, while the corresponding rural index also increased from 16.37 percent in April to 16.50 percent in May. http://www.businesspost.ng/2017/06/15/nigerias-inflation-drops-16-25-may/
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Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by etzskillz(m): 1:09pm On Jun 15, 2017 |
I av nothing to say,d person below me might av something to say BTW 2nd FTC today 1 Like |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by justi4jesu(f): 1:09pm On Jun 15, 2017 |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by laurel03(m): 1:09pm On Jun 15, 2017 |
inflation drop on paper... but on reality garri, beans, rice and petrol price never come down.. 28 Likes |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by erico2k2(m): 1:09pm On Jun 15, 2017 |
ok.9ja nor dey follow logic, this have i come to know |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by tamertery(m): 1:09pm On Jun 15, 2017 |
@ d guy below @ those above HOW? |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by Nobody: 1:09pm On Jun 15, 2017 |
ope o |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by ELgordo(m): 1:09pm On Jun 15, 2017 |
? |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by NoBetterNigeria: 1:09pm On Jun 15, 2017 |
We will get there gradually 1 Like 1 Share |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by braine(m): 1:09pm On Jun 15, 2017 |
Huh |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by Nobody: 1:09pm On Jun 15, 2017 |
LIES 7 Likes |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by seunny4lif(m): 1:11pm On Jun 15, 2017 |
All those grammar for wetin Someone pls explain it on iya oloja way Wetin happen now oooooh 5 Likes
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Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by seunny4lif(m): 1:11pm On Jun 15, 2017 |
16 Likes
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Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by ephi321(f): 1:12pm On Jun 15, 2017 |
Good step, but inflation should not even be in double digits in the first place as it makes a nonsense of people's salaries and income. This govt must ensure they return inflation to single digit before they leave. Nuff said. 1 Like |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by dannytoe(m): 1:12pm On Jun 15, 2017 |
Believe this at your own peril, APC should return the economy to where they meet in 2015. 6 Likes |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by mindworx: 1:12pm On Jun 15, 2017 |
Also, the Food Index increased by 19.27percent (year-on-year) in May 2017, down by 0.03 percent points from the rate recorded in April (19.30 percent) indicating continued pressure in food prices. ^^^ Now, that is just how much inflation dropped as far as am concerned. 6 Likes |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by Nobody: 1:13pm On Jun 15, 2017 |
How? 1 Like |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by pafra(m): 1:14pm On Jun 15, 2017 |
All this talk about inflation figure decline can not make sense without reduction in the prices of food stuff 5 Likes |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by depremore: 1:14pm On Jun 15, 2017 |
this one na school talk make una no waiting una go do,do fast |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by abeniagbon(m): 1:14pm On Jun 15, 2017 |
How I wish I can become president of this country many thing need urgent repairs and it will only take a business to know what is right not a politician. God abeg in your Infinite mercy make me a president of the so call country Nigeria so my people can enjoy a better governance |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by arsenal33: 1:14pm On Jun 15, 2017 |
ephi321: It was going up we complained. It is coming down you complained. |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by seunny4lif(m): 1:14pm On Jun 15, 2017 |
avicenna1:
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Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by Promismike(m): 1:17pm On Jun 15, 2017 |
Tunder fire the idiot who compile this rubish! 3 Likes |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by LastSurvivor11: 1:18pm On Jun 15, 2017 |
How come I still bought mudu of garri #400 I really need to have a word with bubu 4 Likes
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Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by AndreizMendez(m): 1:19pm On Jun 15, 2017 |
Since the price of dollars is dropping, why are the prices of stuffs that went up not dropping? Instead they are even increasing the more. I cannot understand anymore 2 Likes |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by ephi321(f): 1:19pm On Jun 15, 2017 |
arsenal33: Do you know the implication of inflation? It's because people like you settle for anything that this country is where it is. 2 Likes |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by dominique(f): 1:19pm On Jun 15, 2017 |
Bogus report. Apart from diesel which other item has been reduced in price? 6 Likes |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by lafuria1(m): 1:20pm On Jun 15, 2017 |
nice |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by Nobody: 1:24pm On Jun 15, 2017 |
abeniagbon:Easy to say but difficult to implement. That was how the likes of obj, GEj, PMB said before coming to power but nothing has changed |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by Nobody: 1:25pm On Jun 15, 2017 |
arsenal33:The reality is that it's not going down. Things are still high 3 Likes |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by Nobody: 1:26pm On Jun 15, 2017 |
AndreizMendez:Because some sellers derive joy in selling higher prices for super profit |
Re: Nigeria’s Inflation Drops To 16.25% In May - NBS by koladebrainiac(m): 1:29pm On Jun 15, 2017 |
good news |
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