City in Nigeria

Nigeria Inflation April 2019

Nigeria: Inflation inches up in April

Consumer prices rose 0.94% on a month-on-month basis in April, up from March’s 0.79% climb. The acceleration was largely driven by faster growth of food prices.

Inflation ticked up from 11.3% in March to 11.4% in April. Thus, it moved further above the Central Bank’s target range of 6.0%–9.0%.

Meanwhile, core consumer prices, which exclude volatile agricultural produce, rose 0.70% month-on-month in April, above March’s 0.53% increase. In addition, core inflation edged down to an over three-year low of 9.3% in April (March: 9.5%).

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