By Tony Obiechina, ABUJA
This is contained in the latest National Bureau of Statistics (NBS) Consumer Price Index (CPI) Report released in Abuja on Wednesday.
The CPI, which measures inflation rate for goods and services in the Nigerian economy, decreased by 11.26 percent (year-on-year) in October 2018, about 0.02 percent points lower than the rate recorded in September, 2018.
On a month-on-month basis, the report said deadline inflation index increased by 0.74 percent in October 2018, down by 0.09 percent points from the rate recorded in September 2018 (0.83) percent.
The report said increases were recorded in all 12 classifications of individual consumption by purpose (COICOP) divisions that yielded the headline index.
The percentage change in the average composite CPI for the 12 months period ending October 2018 over the average of the CPI for the previous 12 months period, the report said, was 12.78 percent, from 13.16 percent recorded in September 2018.
