The National Bureau of Statistics (NBS) on Wednesday, February 14, 2018, released January 2018 inflation report for the oil-rich West African country, Nigeria.

The NBS report for January 2018 shows that the inflation rate measured by the Consumer Price Index (CPI), dropped to 15.13 percent in January from 15.37 percent recorded in December 2017.

The report said on a month-on-month basis, the Headline index increased by 0.80 percent in January 2018, 0.21 percent points higher from the rate of 0.59 percent recorded in December 2017.

The Bureau said the CPI started the year 2018 increasing by 15.13 percent (year-on-year) in January 2018, a 0.24 percent points lower than the rate recorded in December 2017 (15.37 percent).

The NBS report revealed that the rate recorded made it the twelfth consecutive disinflation (slowdown in the inflation rate though still positive) in headline year-on-year inflation since January 2017, noting that increases were recorded in the Classification of Individual Consumption by Purpose (COICOP) divisions that yield the Headline Index.

Read more: https://aledeh.com/nbs-releases-january-cpi-report-as-nigerias-inflation-drops-to-15-13/