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Nigerian Inflation Slowed For 12th Month In January – NBS

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The National Bureau of Statistics (NBS) on Wednesday says annual inflation in Nigeria slowed for the 12th month in a
row in January to 15.13 percent, compared with 15.37 percent in
December.

A separate food price index showed inflation at 18.92 percent in January, compared with 19.42 percent in December. 
“The
rise in the food index was caused by increases in prices of imported
food in general as well as bread and cereals, milk, cheese … meat,
potatoes and other tubers,” the NBS said in a report. 

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Yemi
Kale, head of the NBS, last month said he expected the rate of
inflation to fall faster this year compared with 2017, but activities
leading up to presidential elections next year could stoke prices. 
Food
inflation has remained in high double digits over the last year. Kale
said the country was in a harvest period and output is increasing which
would help lower food prices but household consumption remained fragile
after the 2016 recession. (Reuters)

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