Data source: National Bureau of Statistics
Nigeria’s consumer price index (CPI) which measures inflation dropped to 11.31% in February 2019, as against 11.37% rate in the preceding month. Specifically, inflation increased by 11.3% (year-on-year) in February 2019.
This represents a 0.06% points lower than the 11.37% recorded in January 2019. Also, core inflation increased by 9.80% year-on-year in February 2019, as against 9.90% in January 2019. This represents a 0.10% decline in core inflation.
Food inflation also increased year-on-year by 13.47% in February from 13.51% in January 2019. This implies a 0.04% decrease in food price inflation.