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Inflation Declines To 15.91% In Consecutive Months – NBS

Dr. Yemi Kale, Statistician-General NBS. Premiumtimes

The National Bureau of Statistics (NBS) has released the Consumer Price Index which measures inflation with the index dropping year-on-year from 15.98 percent in September to 15.91 percent in October.

The bureau in the report which was made available to reporters on Wednesday said this is the ninth consecutive month since January this year that the index would be slowing down.

The report said food index increased by 20.31 percent year-on-year in October, down marginally by 0.01 percent points from the 20.32 percent recorded in September.

In October, NBS said Nigeria’s Gross Domestic Product in real terms declined in the third and fourth quarters of 2016.

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