Nigeria Inflation Rate Eases to 11-Month Low

Nigeria's consumer price inflation fell to 11.22 percent year-on-year in June 2019 from 11.40 percent in the previous month. That was the lowest inflation rate since July 2018.

Year-on-year, prices advanced at a softer pace for food (13.56 percent vs 13.79 percent in May); housing and utilities (7.14 percent vs 7.24 percent); clothing and footwear (9.86 percent vs 9.94 percent); transport (8.88 percent vs 9.07 percent); furnishings and household equipment maintenance (9.24 percent vs 9.37 percent); education (8.82 percent vs 9.09 percent); health (9.30 percent vs 9.44 percent); miscellaneous goods and services (8.55 percent vs 8.70 percent); restaurants and hotels (8.24 percent vs 8.48 percent); alcoholic beverage, tobacco and kola (10.28 percent vs 10.42 percent); and recreation and culture (8.05 percent vs 8.26 percent).

On the other hand, communication inflation picked up to 7.73 percent in June from 7.67 percent in May.

Annual core inflation, which excludes price of volatile agricultural products, fell to 8.84 percent in June, its lowest level since January 2016, from 9.03 percent in May.

On a monthly basis, consumer prices were up 1.07 percent, little-changed from a 1.11 percent increase in May.

Nigeria Inflation Rate Eases to 11-Month Low

National Bureau of Statistics | Joana Ferreira |
7/15/2019 11:53:25 AM