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| NBS Chief, Dr Yemi Kale |
Annual inflation in Nigeria slowed for an eighth
month in September, easing to 15.98 percent, the National Bureau of
Statistics (NBS) said on Tuesday.
month in September, easing to 15.98 percent, the National Bureau of
Statistics (NBS) said on Tuesday.
The rate of annual inflation was 0.03 percent points lower than the rate in August.
A separate food price index showed inflation at 20.32 percent in September, compared with 20.25 percent in August.
“The
rise in the index was caused by increases in prices of potatoes, yams
and other tubers, milk cheese and eggs, bread and cereals, coffee tea
and cocoa, soft drinks, fish, meat and oil and fats,” the NBS said in
its report.
rise in the index was caused by increases in prices of potatoes, yams
and other tubers, milk cheese and eggs, bread and cereals, coffee tea
and cocoa, soft drinks, fish, meat and oil and fats,” the NBS said in
its report.
Nigeria, which has Africa’s largest
economy, emerged from its first recession in 25 years in the second
quarter as oil revenues rose. But the pace of growth was slow,
suggesting the recovery remains fragile.
economy, emerged from its first recession in 25 years in the second
quarter as oil revenues rose. But the pace of growth was slow,
suggesting the recovery remains fragile.
The
World Bank in a report last week said it expected Nigeria’s economy to
grow by 1 percent in 2017 – 0.2 percentage points below its forecast in
April.
World Bank in a report last week said it expected Nigeria’s economy to
grow by 1 percent in 2017 – 0.2 percentage points below its forecast in
April.
Reuters
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