Nigeria Records 11.37% Consumer Price Index in April 2019
The National Bureau of Statistics (NBS), said the Consumer Price Index (CPI), which measures inflation increased by 11.37 per cent (year-on-year) in April 2019. The NBS said this in its “CPI and Inflation Report for April’’ released on Wednesday in Abuja. According to the bureau, this is 0.12 per cent points higher than the rate recorded in March, 2019 (11.25) per cent. The bureau, however, said the high inflation was caused by increase in prices of some foodstuff. Source: NAN The report said the composite food index rose by 13.70 per cent in April compared to 13.45 per cent in March, 2019. It said the rise in the food index was caused by increases in prices of meat, fish, oils and fats, bread and cereals, milk, cheese and egg, yam and other tubers, fruits and vegetables. On month-on-month basis, the report said the food sub-index increased by 1.14 per cent in April, up by 0.26 per cent points from 0.88 per cent recorded in March. The average annual rate of change...