Nigeria: Inflation inches up in March
April 16, 2015
In March, consumer prices increased 0.9% over the previous month, which was above the 0.7% rise tallied in February. According to the National Bureau of Statistics, with the exception of communications, March’s print mainly reflected faster price increases in most of the categories, particularly food.
Annual headline inflation inched up from 8.4% in February to 8.5% in March. The reading marked the highest reading since August 2014. Annual average inflation increased slightly from 8.1% in February to 8.2% in March, thereby reaching a 13-month high.
Core consumer prices, which exclude farm produce and energy prices, rose 0.9% in March over the previous month, which was up from the 0.7% increase tallied in February. Regarding annual figures, core inflation rose from 7.0% in February to 7.5% in March, which marked a nine-month high.