Nigeria inflation ticks down in FebruaryStaff Writer | March 18, 2019
Consumer prices in Nigeria rose 0.73% on a month-on-month basis in February, marginally below January’s 0.74% increase.
Africa Inflation ticked down from 11.4% in January to 11.3% in February
Nigeria's inflation ticked down from 11.4% in January to 11.3% in February.
As a result, it moved closer down to the Central Bank’s target range of 6.0%–9.0%.
Meanwhile, Nigeria'score consumer prices, which exclude volatile agricultural produce, rose 0.65% month-on-month in February, well below January’s 0.81% increase.
Nigeria's core inflation ticked down to 9.8% in February (January: 9.9%).
FocusEconomics Consensus Forecast panelists expect inflation to average 11.8% in 2019, which is unchanged from last month’s forecast.
In 2020, inflation is seen averaging 11.8%. ■