Nigeria: Inflation remains unchanged in March
April 16, 2019
Consumer prices rose 0.79% on a month-on-month basis in March, marginally above February’s 0.73% increase. The mild pick-up was largely driven by a stronger increase in food prices.
Inflation held steady at February’s 11.3% in March. Thus, it remained above the Central Bank’s target range of 6.0%–9.0%.
Meanwhile, core consumer prices, which exclude volatile agricultural produce, rose 0.53% month-on-month in March, below February’s 0.65% increase. Core inflation edged down to 9.5% in March (February: 9.8%).
Author: Javier Colato, Economist