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Updated: Nigerian Inflation Slowed For 11th Month In Dec – NBS

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Dr Yemi Kale
Annual inflation in Nigeria slowed for the 11th
month in a row in December, to 15.37 percent from 15.90 percent a month
before, the head of the National Bureau of Statistics (NBS) said in a
tweet on Tuesday. 

Yemi Kale also said on his
personal Twitter account that a separate food price index showed
inflation at 19.42 percent in December, down from 20.30 percent in
November. 

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In October, Central Bank Governor
Godwin Emefiele said he expected inflation rates to fall at a faster
pace and reach the high single-digits by the middle of 2018. 
The
bank has kept its main interest rate at 14 percent for over a year now
as it battles inflation and seeks to attract foreign investors to
support the naira currency. 
The government wants to see rates come down to lower its borrowing costs and stimulate the economy. 
The
West African nation emerged from its first recession in 25 years in the
second quarter of 2017 as oil revenues rose, although the slow pace of
growth suggests the recovery remains fragile. (Reuters)

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