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    Inflation now 16.05 Percent in July

    By
    Prnigeria
    -
    August 28, 2017
    The inflation report for July 2017 made available from the National Bureau of Statistics(NBS) reveals that headline inflation has again reduced to 16.05 percent (year-on-year) in July 2017, compared to 16.10 percent in June 2016. This makes it the sixth consecutive decline in the rate of headline year on year inflation since January 2017.
    On a month-on-month basis, the Headline index increased by 1.21 percent in July 2017, 0.37 percent points lower from the rate of 1.58 percent recorded in June.
    Food price pressure however continued into July with 20.28 percent (year-on-year) from 19.91 percent. This represents the highest year on year increase in food inflation since the beginning of the new series in 2009.
    On a month-on-month basis, however, the Food sub-index increased by 1.52 percent in July, down by 0.47 percent points from 1.99 percent recorded in June.
    Core inflation which excludes the prices of volatile agricultural produce eased by 0.30 percent in July to 12.20 percent points from 12.50 percent recorded in June. Core inflation similar to overall/headline inflation has declined consecutively since January 2017.
    On a month-on-month basis, the Core sub-index increased by 1.00 percent in July, 0.32 percent points lower from 1.32 percent recorded in June.
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    Kano Police Arrest 28 Suspects, Seize Dangerous WeaponsKano Gov Appoints Yusuf Sharada Special Adviser on Digital EconomyKogi SEMA To Establish Emergency Operation CentreThe Passing of a Mighty Warrior by Chief Femi Fani-KayodeSGF Akume Leads Presidential Committee for Buhari’s State FuneralPolice Arrest 6 Suspected Armed Robbers in Benue, Recover Firearm, MotorcycleNorthwest Governors Mourn Buhari, Declare Tuesday Public HolidayFG Declares Tuesday Public Holiday in Honour of Late Ex-President BuhariJUST IN: FG Declares Tuesday Public Holiday to Honour BuhariWalson-Jack Inaugurates Editorial Team for Civil Service Legacy BookPolice Arrest Suspects for Human Trafficking, Rescue Victims in Anambra, Enugu, EdoCustoms Exposes Scam Over Form M Migration to B’Odogwu PlatformUPDATE: Buhari's remain for burial Tuesday 2pm - Gov RaddaYahaya Bello Mourns Passing of Buhari and Awujale of IjebulandBuhari in his Own Words By Kabir Akintayo
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