For the first time in 15 months, Nigeria’s inflation has declined from 18.72 percent posted in January to 17.78 percent year on year in February.
The National Bureau of Statistics (NBS) in the latest report released on Tuesday, stated that food inflation rose to 18.53 percent year- on-year from 17.82 percent and 1.99% month-on-month from 1.29 percent in January.
Also, core inflation dropped from 17.9 petcent to 16.0 percent year-on-year in February.
The report indicates further that Urban inflation fell to 18.57 percent year-on-year from 20.31 percent.
In the same vein, rural inflation dropped from 17.34 percent in January to 16.98 percentage.
