Nigeria’s monthly inflation rate has slowed for the third consecutive month, indicating the effectiveness of the Central Bank of Nigeria’s monetary policy tightening measures.

The CBN highlighted this in a statement shared with Journalists on Saturday.

According to the National Bureau of Statistics, the headline month-on-month inflation rate decreased to 2.14 per cent in May, down from 2.29 per cent in April and 3.02 per cent in March. Food inflation also fell for the third consecutive month to 2.28 per cent in May.

The Deputy Governor of the Economic Policy Directorate at the CBN, Muhammad Abdullahi stated, “Slowly but surely, the inflation tide is turning. We will continue to work diligently with coordinated policy measures to ensure that the worst of the inflationary cycle is behind us in the nearest future.”

The CBN’s efforts to combat inflation have been ongoing since February, and the monthly numbers indicate a positive trend. While year-on-year inflation continues to rise, the monthly rates show a slowdown in price increases for essential goods.

The CBN Governor, Olayemi Cardoso has made tackling inflation a top priority to achieve sustainable economic growth and improve the standard of living for Nigerians.

The decline in inflation rates is a nationwide trend, with 13 states, including Abuja, Akwa Ibom, and Rivers, experiencing a slowdown in year-on-year inflation in May.

Abdullahi noted that, “This development is a promising sign that the CBN’s policies are having the desired effect, and Nigerians may soon experience relief from the high cost of living that has persisted since the COVID-19 pandemic.”

Creamcrest:
Thats true.

Gas I buy for 1300 per kg now 1150.

SadiqBabaSani:
Generally inflation increased. Tinubu Government should be ashamed, gas was 400per kg when the wicked demons in power snatched power through Buhariand took it to about 1400 per kg

You cannot take what was 400 up to about 1400 then bring it down to 1150 and expect Reasonable people to praise you.

Propaganda cannot help you Govern,

Give Nigerians good governance.

Creamcrest:
Thats true.

Gas I buy for 1300 per kg now 1150.

ineri:
How much is the price of Bread in your state now.

Why are people deceiving the President

Paraman:
Nigeria’s monthly inflation rate has slowed for the third consecutive month, indicating the effectiveness of the Central Bank of Nigeria’s monetary policy tightening measures.

The CBN highlighted this in a statement shared with Journalists on Saturday.

According to the National Bureau of Statistics, the headline month-on-month inflation rate decreased to 2.14 per cent in May, down from 2.29 per cent in April and 3.02 per cent in March. Food inflation also fell for the third consecutive month to 2.28 per cent in May.

The Deputy Governor of the Economic Policy Directorate at the CBN, Muhammad Abdullahi stated, “Slowly but surely, the inflation tide is turning. We will continue to work diligently with coordinated policy measures to ensure that the worst of the inflationary cycle is behind us in the nearest future.”


The CBN’s efforts to combat inflation have been ongoing since February, and the monthly numbers indicate a positive trend. While year-on-year inflation continues to rise, the monthly rates show a slowdown in price increases for essential goods.

The CBN Governor, Olayemi Cardoso has made tackling inflation a top priority to achieve sustainable economic growth and improve the standard of living for Nigerians.

The decline in inflation rates is a nationwide trend, with 13 states, including Abuja, Akwa Ibom, and Rivers, experiencing a slowdown in year-on-year inflation in May.

Abdullahi noted that, “This development is a promising sign that the CBN’s policies are having the desired effect, and Nigerians may soon experience relief from the high cost of living that has persisted since the COVID-19 pandemic.”


https://punchng.com/13-states-show-inflation-slowdown-as-cbn-policy-takes-effect/?utm_source=telegram&utm_medium=social#google_vignette

iwaeda:

Cardoso must be Mutairu

DevilsEqual:


That guy used a real life example, using himself as a reference to back a good news he just read, but you tackled his own real personal experience??

Do some of u understand logic at all or u just attack for the sake of it...


Well, there are no smart obidients alive

DevilsEqual:


That guy used a real life example, using himself as a reference to back a good news he just read, but you tackled his own real personal experience??

Do some of u understand logic at all or u just attack for the sake of it...


Well, there are no smart obidients alive

DevilsEqual:


But if it was the other way round, you'd believe it right?

Your affinity for negativity is strong

Go cleanse your mind and get whole


It's not always that bad with the country...when u see some glimmer of hope, try rejoice.

helinues:
Toh