Nigeria’s inflation rate has again dropped from 16.01 percent in August to 15,98 per cent in September, figures from the National Bureau of Statistics, NBS, shows.
A report by NBS released on Tuesday in Abuja, showed that the drop in Nigeria’s rate of inflation in September was the eight consecutive month that the index would be declining since January 2017.
On a month-on-month basis, the NBS stated that the headline index increased by 0.78 per cent in September, in contrast to the 0.97 per cent recorded in August this year.
The NBS stated that the “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.”
