Nigeria’s consumer prices rose at the slowest pace in 2 1/2 years in June as food costs climbed the least since March 2016.

The annual consumer inflation rate was 11.2 percent from a year earlier, compared with 11.6 percent in May, the Abuja-based National Bureau of Statistics said in an emailed report Monday. The median estimate in a Bloomberg survey was for 10.9 percent. Prices rose 1.2 percent in the month.


The inflation rate fell even as the Nigerian government started releasing funding for its record 2018 budget of 9.12 trillion naira ($25 billion), which some analysts had anticipated would cause prices to rise.

Price pressures are still expected to kick in on growing election-related spending ahead of February’s federal and state vote, with President Muhammadu Buhari seeking a second mandate.

The central bank’s monetary policy committee will tomorrow announce its decision on its main interest rate, which it has held at 14 percent since July 2016 to curb inflation.

The bank targets an inflation rate of 6 percent to 9 percent and has signaled rate cuts when price growth moves closer to this band.

Food prices increased 12.98 percent in June from a year earlier, a seventh straight month of deceleration, the agency said.

http://www.akelicious.net/2018/07/nigerias-inflation-slows-to-lowest-rate.html

You people are speaking too much Grammar that Hausa/Fulani Illiterates does not understand.

Simply tell Nigerians that Prices of Food stuffs started rising immediately the brainless president came in and wasted 6 months reading budget before signing.

simply tell them that Prices of things may go up again as election draws near as politicians now push more money into the hands of the people making more money in circulation chasing few goods. simplify it let them know what is coming whenever they shout Sai Barber

Things are getting costlier by the day and you here telling me drop in inflation.

Okay o

NBS will come and refute the report. These days, our statistics emanate from the presidency with no data backing it.

Good reports on papers...


Hunger in reality.

Well this govt won’t admit it has failed!
They keep making excuses

Bloody spaghetti is being sold for 200 naira . What insult!!!!!!

If it likes, let it drop to 6%. So far the common man doesn't feel the impact all are wash. If we can't buy rice @#8,000, PMS @#90 (since they told us they have removed the subsidy but our NNPC(due for concession) is incurring debt every blessed day, let them revert it), and so forth. I couldn't help but laugh at our incompetent government shouting up and down like a crying toddler about expected achievements. Though, there are cases of turmoil in other countries either developed or less developed, but they put policies that improve human development in place. In Nigeria, unemployment is order of the day, some will be ululating about how government programs like N-POWER is good forgetting that it will only serve in the short run but become burden on the govt in form of recurrent expenditure in the long run.. A sane govt will make sure there is adequate infrastructures like good roads, heath facilities, sound education (unlike the one we currently have where some graduates can't write application letter properly). If these infrastructures are on ground, there will definitely be foreign investment in the country.
If these things are not addressed we will keep on wallowing in abject poverty..

Please nairalanders,
I need a job. I am a graduate of Mechanical Engineering.
Please I need your help as I am willing to work in any film within or outside the state.
Please help a brother.
I have experienced in operations and maintenance various of machines, with a required knowledge of AutoCAD design.

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Something is working somewhere

GavelSlam:
Sai Baba.

Sai Buhari

Finally Buhari is broke ..check this out

its because nobody is going to buy. people are broke and not even ready to buy plenty things the way it used to be back then. and still unemployment rate is high. taxes everywhere

Serious hunger in the land

I

Let these figures not translate into physical impact on the citizenry.

We IPoB juwus reject this fall in inflation rates

I have never believed the inflation rates, never have never will.

We all know that mostly everything we use got 50% increase at least. yet economist will say its 12%, who is deceiving who.

israelmao:
Let these figures translate into physical impact on the citizenry.

Are u dat dull?

adewumiopeyemi:

Total knockout social media analyst

bull crap from the pit of hell!.... let's even assume it's possibility, the purchasing power is at all time low!


this satanic CHAINge is taking the shithole NOWHERE!

In calculus, a rising and falling variable changes the least when it is at its maximum point.
So inflation rate rising slowly is because inflation rate is maximum.

Just as high blood presure rises to highest rate since buhari enter office.

mikaj:
Bloody spaghetti is being sold for 200 naira . What insult!!!!!!

its still cheaper compared to western nations....

and if you consider you dont even produce it yourselfs.......

and if you say spaghetti,do you mean indomie or pack of spaghetti....?

and recently we recorded more suicide in South West... I pray Allah dash them small brain to vote wisely this time around

GavelSlam:


You mean spaghetti is sold for 60 cents?

Shock, horror.

you cant get spaghetti for 60cents in europe...you need atleast a dollar....

and you even import it sef....sooo,you pay nearly as much as in western nations....

A good thing
Still not better than Jonathan's tenure.
The average man in the street is yet to feel the it.


Buy cheap data...

you nigerians still dont understand how good you still have it...haiti is suffering hyperinflation right now....

i was watching news yesterday,and you pay 5dollars per gallon....and the people only earn 2dollars a day or a year...?

i dont remember...per day i think...

many sleep in their workplace now,because they cant afford transport....