Economic News UpdateFeatured

Nigeria Headline Inflation Hits its Lowest Rate since July-2018

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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Economic News UpdateFeatured

Nigeria Headline Inflation Hits its Lowest Rate since July-2018

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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