Proshare Logo
   Market Date: 30-01-2015   
Agriculture ARTS FINANCE All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Elections Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

Inflation Rate Drops to 13.3% in April, Says NBS

Category: Nigeria Economy

  Read (1212)
Inflation Rate Drops to 13.3% in April, Says NBS


The composite consumer price index (CPI), which is the measure of inflation rate (year-on-year) was 13.3 per cent at the end of April, lower than the previous month’s rate of 14.4 per cent, said the National Bureau of Statistics (NBS).

Inflation rate is the rate of upward movement in the average level of prices.
In the period under review, NBS revealed that, Food prices rose by 0.7 per cent while the “All Items Less Farm Produce” prices went up by 0.6 per cent.

The Urban All items index also rose by 0.5 percent while the corresponding Rural index increased by 0.6 per cent over the period when compared with their preceding months.

On the year-on-year basis, average Consumer Price level as at April, 2009 for urban and rural dwellers rose by 8.6 and 15.7 per cent respectively.

According to the Bureau, the percentage change in the average composite CPI for the 12-month period ending April 2009 over the average of the CPI for the previous twelve-month period was 13.5.

This was higher than what was recorded by making similar comparison in March 2009. The corresponding urban and rural indices rose by 11.3 and 14.6 percent respectively.

For the food index, the Bureau explained that, the rise in the index was caused by increase in the prices of staple foods such as yam, meat, vegetables and potatoes.

“The level of the composite food index was higher than the corresponding level a year ago by 15.3 per cent. The average annual rate of rise of the index was 17.9 per cent for the 12-month period ending March 2009,” it added.

Similarly, NBS noted that the “All Items Less Farm Produce” index which excludes the prices of agricultural produce rose in April due to increase in the prices of household goods, transport-ation, newsprints, education materials and services.

The Bureau also disclosed that, in the twelve-month to April 2009, the index rose by 10.9 per cent while the average annual rateof rise of the index was 7.3 per cent for the 12-month period ending April 2009.


Tags: , 

Comment With Your Facebook or Yahoo! ID

Latest news

News on Nigeria Economy

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Contact Us
Volunteer Program
Message from CEO

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Discussion Forum

Subscriber Agreement
Privacy Policy
Data Policy
Copyright Policy
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Legal Support Services
Web/Technology Services
File a Complaint

CBN Governor 2014