Nigeria’s consumer price inflation fell to 11.22% YoY in June 2019 from 11.40% in the previous month (May). This is the lowest inflation rate since July 2018, as prices rose at a softer pace for almost all categories. Annual core inflation, which excludes price of volatile agricultural products, fell to 8.84% in June, its lowest level since January 2016.
YoY, prices advanced at a softer pace for food (13.56% against 13.79% in May); housing and utilities (7.14% against 7.24%); clothing and footwear (9.86% against 9.94%); transport (8.88% against 9.07%); furnishings and household equipment maintenance (9.24% against 9.37%); education (8.82% 9.09%); health (9.30% 9.44%); miscellaneous goods and services (8.55% against 8.70%); restaurants and hotels (8.24% against 8.48%); alcoholic beverage, tobacco and kola (10.28% against 10.42%); and recreation and culture (8.05% against 8.26%).
Rate Summary- June 2019 | ||||
Nigeria Prices | Last | Previous | Highest | Lowest |
Inflation Rate (%) | 11.22 | 11.40 | 47.56 | 2.49 |
Consumer Price Index CPI (Points) | 289.70 | 286.60 | 289.70 | 14.36 |
Core Consumer Prices (Points) | 267.88 | 265.62 | 267.88 | 69.00 |
Core Inflation Rate (%) | 8.80 | 9.00 | 19.28 | 0.49 |
Food Inflation (%) | 13.56 | 13.79 | 39.54 | 17.50 |
GDP Deflator (Points) | 193.63 | 185.02 | 193.63 | 0.60 |
CPI Housing Utilities (Points) | 283.60 | 281.80 | 283.60 | 7.80 |
CPI Transportation (Points) | 266.50 | 264.60 | 266.50 | 68.50 |
Inflation Rate Mom (%) | 1.10 | 1.10 | 8.93 | 3.50 |
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