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/

I av nothing to say,d person below me might av something to say
BTW 2nd FTC today

inflation drop on paper... but on reality garri, beans, rice and petrol price never come down..

ok.9ja nor dey follow logic, this have i come to know

@ d guy below




@ those above

HOW?

ope o

?

We will get there gradually

Huh

LIES

All those grammar for wetin
Someone pls explain it on iya oloja way
Wetin happen now oooooh

NoBetterNigeria:
We will get there gradually

Where
Abuja ?
London ?

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.

Believe this at your own peril, APC should return the economy to where they meet in 2015.

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.

How?

All this talk about inflation figure decline can not make sense without reduction in the prices of food stuff

this one na school talk make una no waiting una go do,do fast

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

ephi321:
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.

It was going up we complained.

It is coming down you complained.

Tunder fire the idiot who compile this rubish!

How come I still bought mudu of garri #400

I really need to have a word with bubu

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

arsenal33:


It was going up we complained.

It is coming down you complained.

Do you know the implication of inflation?
It's because people like you settle for anything that this country is where it is.

Bogus report. Apart from diesel which other item has been reduced in price?

nice

abeniagbon:
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

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

arsenal33:


It was going up we complained.

It is coming down you complained.

The reality is that it's not going down. Things are still high

AndreizMendez:
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

Because some sellers derive joy in selling higher prices for super profit

good news