The anticipated drop in the inflation rate is premised on the base effect of higher prices in the Composite Consumer Price Index (CCPI) in March 2017 than the current month.
Nigeria's inflation rate is projected to drop to 13.49% in March 2018 from 14.33% recorded in the previous months, analysts at FSDH Research have predicted.
FSDH Research stated this in a report released on Thursday, April 5, 2018. The report pointed out that the anticipated drop in the inflation rate is premised on the base effect of higher prices in the Composite Consumer Price Index (CCPI) in March 2017 than the current month.
The National Bureau of Statistics (NBS) is expected to release the inflation rate for the month of March on 16 April, based on the data release calendar on the website of the NBS.
The Statistical office in its Consumer Price Index (CPI) report for February 2018, released in March 2018, said core inflation dropped from 15.13 in January to 14.33% in February, the lowest level in almost a year.
The FSDH report is coming after Omotola Abimbola, Research Analyst at Afrinvest West Africa had told Business Insider Sub Sahara Africa that his firm estimated a further moderation in year on year inflation to 13.4% in March from 14.3% percent in February 2018.
By Aderemi Ojekunle.
Full story at Pulse NG.
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