Nigeria In One Minute
Easing consumer demand tempers inflation rate
Deceleration in farm produce and imported food, reflecting waning impact of festive period induced demand for grains and imported items may have impacted positively on the consumer price index (CPI), which measures inflation, as it closed lower at 11.37 percent (year-on-year) in January 2019, 0.07 per cent points lower than the rate recorded in December 2018 (11.44) per cent.
However, increases were recorded in all COICOP divisions that yielded the Headline index.
On month-on-month basis, the Headline index increased by 0.74 per cent in January 2019, same rate as was recorded in December 2018 (0.74) per cent.
At 59.3 points, the production level index for the manufacturing sector recorded a slower growth in January, when compared to its level in the preceding month, owing to weaker demand and high rate of unemployment.
Guardian, Wednesday 20, February.
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