BY YESMAN ANTOH-
NEW AFRICA BUSINESS NEWS, Accra, Ghana- Reports coming from Nigeria, Africa’s largest economic indicates the nation’s consumer inflation rose in April for the first time in three months, a new report released by the National Bureau of Statistics (NBS) showed.
The inflation rate, which rose to 11.44% in December from 11.28% in November, declined for three straight months since January.
The NBS, in its April 2019 inflation report, said the headline inflation expanded to 11.37% last month from 11.25 per cent in March.
Food inflation rose to 13.70 per cent in April from 13.45 per cent in March, with the highest increases recorded in the prices of meat, fish, oils and fats, bread and cereals, milk, cheese and egg, potatoes, yam and other tubers.
On a month-on-month basis, food inflation increased faster by 1.14 per cent, relative to the 0.88 per cent recorded in the previous month.
BY YESMAN ANTOH, NEW AFRICA BUSINESS NEWS, BUSINESS & POLITICAL, GLOBAL CORRESPONDENT