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Inflation Rate Falls To 17.26% - Politics - Nairaland

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Inflation Rate Falls To 17.26% by ifyan(m): 8:10am On Apr 14, 2017
Ifeanyi Onuba, Abuja

The National Bureau of Statistics on Thursday released the Consumer Price Index, which measures inflation rate, with the index dropping year-on-year from 17.78 per cent in February to 17.26 per cent in March.

Apart from the inflation report, the NBS also released five others. They are the cooking gas price watch, Premium Motor Spirit price watch, kerosene price watch, diesel price watch and transport fare watch.

The 0.52 percentage point drop in inflation is a relief to consumers as this is the second consecutive time in 15 months that the country will see a reduction in the price index.

The NBS attributed the decline in inflation rate to the early effects of the strengthening naira in the foreign exchange market, which has assisted in stabilising prices.

It said, “On a headline basis, the Consumer Price Index, which measures inflation, increased by 17.26 per cent (year-on-year) albeit at a slower pace in March 2017, 0.52 per cent points lower from the rate recorded in February (17.78) per cent.

However, the report stated that while the overall pace of inflation increase was slower, the rate of the increase in housing, water, electricity, gas, other fuels, education, food and alcoholic beverages, clothing and footwear, as well as transportation services was accelerated.

On a month-on-month basis, the NBS report stated that the headline index increased to 1.72 per cent in March, 0.23 per cent points higher from the rate recorded in February.

It added that the urban index rose to 18.27 per cent year-on-year in March from 18.57 per cent recorded in February, while the rural index increased to 16.47 per cent from 16.98 per cent in the period under review.

On month-on-month basis, the report explained that urban index rose to 1.76 per cent in March from the 1.52 per cent recorded in February, while the rural index increased to 1.67 per cent from 1.47 per cent in February.

For the PMS, the bureau said the average price paid by consumers for petrol increased by 10.1 per cent year-on-year and decreased by 0.3 per cent month-on-month to N149.4 in March from N149.8 in February.

Source http://www.nairausd.com/2017/04/inflation-rate-falls-to-1726.html

Re: Inflation Rate Falls To 17.26% by Garrithe1st: 8:17am On Apr 14, 2017
Bad news for PDP E rats.

Bad news for Ipob youths.

Good news for patriotic Nigerans.

angry

4 Likes

Re: Inflation Rate Falls To 17.26% by ifyan(m): 8:49am On Apr 14, 2017
Garrithe1st:
Bad news for PDP E rats.

Bad news for Ipob youths.

Good news for patriotic Nigerans.

angry

Funny

3 Likes

Re: Inflation Rate Falls To 17.26% by 989900: 8:54am On Apr 14, 2017
Good, but farrrrrrr from home.
Re: Inflation Rate Falls To 17.26% by muyibaba222(m): 9:37am On Apr 14, 2017
ok. waiting patiently for further reduction
Re: Inflation Rate Falls To 17.26% by Qmerit(m): 9:41am On Apr 14, 2017
More of this pls..
God bless PMB!!
God bless PYO!!
God bless patriots

5 Likes

Re: Inflation Rate Falls To 17.26% by Yyeske(m): 10:04am On Apr 14, 2017
Children of hate won't like this, they've always prayed for dollar to go for 2000 naira and inflation rate to be 1000 percent so as to call our president a failure. God pass them

5 Likes

Re: Inflation Rate Falls To 17.26% by SalamRushdie: 10:11am On Apr 14, 2017
Inflation rate couldnt have fallen when one bottle of Cway just moved from 500 to 550 this week alone
Re: Inflation Rate Falls To 17.26% by ifyan(m): 10:28am On Apr 14, 2017
SalamRushdie:
Inflation rate couldnt have fallen when one bottle of Cway just moved from 500 to 550 this week alone

Market traders go make gain na
Re: Inflation Rate Falls To 17.26% by madridguy(m): 10:30am On Apr 14, 2017
Okay
Re: Inflation Rate Falls To 17.26% by MadamExcellency: 10:39am On Apr 14, 2017
In the last one month, these companies increased the prices of the manufactured goods even when dollar is depreciating

coca Cola increased the prices of their products by 25%

Klin increased by N300 per carton

Unilever increased by reducing the content of their products by 10% to 20% per carton and sold at the same previous price. Pepsodent and Closeup increased by almost N3000 per carton

Chi Limited just increased by 10 to 30%% across board for Chivita, Exotic, hollandia, Caprisonne etc.

1 Like

Re: Inflation Rate Falls To 17.26% by jojomario(m): 10:41am On Apr 14, 2017
Coca Cola just increased while Pepsi still remains same. I don't even know the meaning of fallen rate in inflation again.
Re: Inflation Rate Falls To 17.26% by 7lives: 11:56am On Apr 14, 2017
jojomario:
Coca Cola just increased while Pepsi still remains same. I don't even know the meaning of fallen rate in inflation again.

Stop pretending, a bag of rice is now 13k at arena in Oshodi here.
I know this is really a bad news to the never do wells of this country, naija must sweet again.

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Re: Inflation Rate Falls To 17.26% by DropShot: 11:59am On Apr 14, 2017
Good news. I pray it's sustained.
Re: Inflation Rate Falls To 17.26% by kutchs: 12:22pm On Apr 14, 2017
7lives:


Stop pretending, a bag of rice is now 13k at arena in Oshodi here.
I know this is really a bad news to the never do wells of this country, naija must sweet again.
Is that what it's sold for everywhere?
At Jimeta market in Yola, I bought a bag for #19,000 on Tuesday.

1 Like

Re: Inflation Rate Falls To 17.26% by jojomario(m): 2:59pm On Apr 16, 2017
7lives:


Stop pretending, a bag of rice is now 13k at arena in Oshodi here.
I know this is really a bad news to the never do wells of this country, naija must sweet again.
haba, take it easy. Just wondering while some commodities refused to come down price wise.common...

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