Stella Dimoko Inflation rate records first drop in 15 months


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Wednesday, March 15, 2017

Inflation rate records first drop in 15 months

The National Bureau of Statistics on Tuesday released the Consumer Price Index, which measures inflation rate, with the index dropping year-on-year from 18.72 per cent in January to 17.78 per cent in February.

Apart from the inflation report, the NBS also released four others. They are the cooking gas price watch, Premium Motor Spirit (petrol) price watch, kerosene price watch and the diesel price watch.

The drop by 0.94 percentage points in inflation is a relief to consumers as this is the first time in 15 months that the country will witness a reduction in the price index.

The report attributed the drop in the inflation rate to slow increases recorded in food prices and other divisions.

Edited from Punch


  1. Replies
    1. Stella we really thank God and pray it continues. Iron rod that sky-rocketed to over #5,000 is now about #4,000.

  2. Well something needs to be done about the price of Garri. In Uyo the price of a cup of garri is now N150. Fufu now N100. Garri is now gold.

    1. It's too early to get excited. It has to reflect in the cost of items first.

  3. I will believe when I experience it.
    God pls grant my heart desires, in Jesus name, Amen.

  4. Proverbs 29:2 KJV
    When the righteous are in authority, the people rejoice: but when the wicked beareth rule, the people mourn.
    In just few days of osinbajo rule.

    Krix signing out via iPhone 7+

  5. Stella, I know you've never worked in a proper newspaper house but you're still a well trained & exposed journalist.

    Na this main post your yinmu meme should be, not great news. What silly great news? Have any prices actually come down? Power oil went up this week from 4,000 to 4,650. Pure water plants have increased. Dangote salt increased, the list is endless. The inflation is almost weekly! Don't carry any annoying false report & append yamayama "great news" meme to it, I dey provoke.
    Customers will now be angry with supermarket owners, like Na we dey increase price. If power oil add roughly 25% wetin I go do, reduce how much I sell it???

  6. How come this inflation didn't affect the prices of food stuff?...
    How come things are still very expensive in the market?...
    Vuharia should open the border for us if he has the interest of Nigeria at hand!...
    I know he won't cos he is a very very wicked old man!...

  7. Food stuff needs to come down!!! It is really hard now!! Please God let the food stuff prices be reasonable


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