Home Business Inflation rate drops to 11.25% in March - NBS

Inflation rate drops to 11.25% in March – NBS

- Advertisement -

Inflation rate drops to 11.25% in March – NBS… Base on report reaching all tech news, the Nigeria National Bureau of Statistics on Tuesday released the Consumer Price Index, which measures inflation with the index dropping to 11.25 per cent (year-on-year) in March 2019.

The bureau in the report said the 11.25 per cent year-on-year inflation rate is 0.06 per cent points lower than the 11.31 per cent recorded in February 2019.

- Advertisement -

On a month-on-month basis, the report stated that the index increased by 0.79 per cent in March, adding that this was 0.06 percentage points higher than the 0.73 per cent recorded in February.

The report stated that urban inflation rate increased by 11.54 per cent year-on-year in March 2019 from 11.59 per cent recorded in February, while the rural inflation rate increased by 10.99 per cent in March from 11.05 per cent in February.

On a month-on-month basis, the NBS said the urban index rose by 0.81 per cent in March, up by 0.05 percentage points from 0.76 per cent recorded in February.

It added that the rural index also rose by 0.77 per cent in March, up by 0.06 percentage points from the 0.71 per cent recorded in February.

The report stated that food index rose by 13.45 per cent in March compared to 13.47 per cent in February.

It said the rise in the food index was caused by increases in prices of bread and cereals, meat, fish, potatoes, yam and other tubers, oils and fats, and soft drinks, vegetables, and fruits.

In terms of state inflation profile, the report said price increases were highest in Kebbi (14.65 per cent), Zamfara (13.15 per cent) and Taraba (12.98 per cent), while Kwara (9.84 per cent) Cross River (9.66 per cent) and Delta (9.61 per cent) recorded the slowest rise in headline year on year inflation.

On a month on month basis however, it said inflation was highest in Kogi (1.91 per cent), Plateau (1.77 per cent), and Lagos (1.63 per cent), while Nasarawa (0.26 per cent), Kwara (0.16 per cent) and Enugu (0.13 per cent) recorded the slowest rise.

All Tech News offers you all the exclusive tech news you can’t afford to miss, get the latest technology news via: TECH NEWS,  INTERNET,  MOBILE PHONES,  CAR NEWS,  GADGETS,  APPSBUSINESS and latest tech VIDEO… You can visit All Tech News HOME PAGE for the current latest tech news.

Click Here To Visit The leading Education Platform Click Here To Read Latest News in Nigeria
alltechng
Technology has brought joy to the world and make work simple and easier... We are tech lovers........... A PUBLISHER @ ALL TECH NEWS....................

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Ericsson 5G Innovation Center Now Active

All Tech NG gathered according to report that Ericsson has opened a 5G innovation center in the Metropolis business center (Moscow), which invests 1...

Alternative Android from Huawei Will Hit Market Soon

The head of Huawei Consumer Business Group, Richard Yu, said that the company plans to release its own operating system this fall. It will replace...

Microsoft to stop cooperation with Huawei

All Tech News gathered that Microsoft will stop cooperating with Huawei in the segments of consumer electronics and b2b-solutions due to its inclusion in...

Huawei accuses US of bullying

Chinese telecoms equipment maker Huawei called itself the victim of U.S. “bullying” on Tuesday and said it was working with Google to counter trade...

US Senator proposes strict Do Not Track rules

Online advertising has become more invasive than ever, and Sen. Josh Hawley (R-MO) announced today that he plans to introduce a bill that would...