25.1 C
Wednesday, June 29, 2022

Headline Inflation Moderates for Sixth Consecutive Month

Must read

According to the National Bureau of Statistics (NBS), Nigeria’s headline inflation moderated by 38bps to 16.63% in September 2021.

The descent in inflation was driven mainly by the sustained decline in Food inflation to 19.57% (-74 bps), which offset price pressures in the Core component (+26 bps to 13.74%).

Likewise, the urban and rural inflation readings moderated to 17.19% and 16.08%, respectively, in the review month (vs 17.6% and vs 14.49% apiece in August 2021).

On the flip side, pressures were evident on month-on-month numbers as the readings increased.

Headline inflation increased by 13bps to 1.15% (vs 0.93% in August).

Food inflation came in at 1.26% (vs 1.06% in August)
Core inflation was up by 47bps to 1.24%.

- Advertisement -spot_img

More articles


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -spot_img

Latest article