Inflation Declines to 11.31%


By James Emejo in Abuja

The Consumer Price Index (CPI), which measures inflation, further decreased to 11.31 per cent (year-on-year) in February compared to 11.37 per cent in January, according to the National Bureau of Statistics (NBS).

The urban inflation rate stood at 11.59 per cent (year-on-year) in February from 11.66 per cent recorded in January while the rural inflation rate tood at 11.05 per cent in February from 11.11 per cent in the previous month.

Core inflation, which excludes the prices of volatile agricultural produce stood at 9.8 per cent in February, down by 0.1 per cent when compared with 9.9 per cent recorded in January.