The latest report by the National Bureau of Statistics has disclosed that inflation in Nigeria has dropped from 16.01 per cent in August to 15.98 per cent in September.
The report was released on Tuesday in Abuja and it was sequel to NBS’ Consumer Price Index report, which measures inflation with the rate dropping year-on-year.
According to the bureau, the September drop in Nigeria’s rate of inflation was the eighth consecutive month that the index had shown a decline in inflation since January this year.
NBS explained that on a month-on-month basis that the headline index increased by 0.78 per cent in September, in difference to the 0.97 per cent recorded in August this year.
NBS said, “Consumer Price Index which measures inflation increased by 15.98 per cent (year-on-year) in September 2017.
“This was 0.03 per cent points lower than the rate recorded in August (16.01) per cent, making it the eighth consecutive decline in the rate of headline year on year inflation since January 2017.”
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