Business

NBS: Nigeria’s inflation rate drops to 18.12%

The Consumer Price Index (CPI), which measures inflation, has dropped to 18.12 per cent in April compared to 18.17 per cent in March, the National Bureau of Statistics (NBS) has said.

Food inflation slowed to 22.72 per cent in April compared to 22.95 per cent in the previous month.

However, core inflation strengthened to 12.74 per cent in April from 12.67 per cent in March.

According to the CPI report for April, 2021, which was released by the statistical agency Monday, urban inflation slowed to 18.68 per cent in the review period from 18.67 per cent in March.

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