BREAKING: Nigeria’s inflation rate drops to 18.12% in April

Nigeria’s inflation rate slowed for the first time in two years, to stand at 18.12 percent in April 2021, beating analysts’ expectations.

This is according to the Consumer Price Index report, released by the National Bureau of Statistics (NBS) on Monday.

April 2021 inflation rate indicates a drop compared to 18.17 percent recorded in March 2021.

Since September 2019, prices of goods have been accelerating.

Food inflation also stood at 22.72 percent in April 2021 from 22.95 percent recorded in the previous month, while Core Inflation increased to 12.74 percent in April 2021 from 12.67 percent recorded in March 2021.

More details later….