Foodie Naija Update

Inflation: Mixed outlook as food prices remain high

AGAINST the backdrop of deceleration of inflationary pressures announced by the National Bureau of Statistics, NBS, last week, further insight into price movements in the first quarter of the year has indicated a mixed result.

Financial Vanguard and other analysts’ reports indicate that the deceleration was principally a year-on-year, YoY, base effect rather than a decline in prices, especially in food and related items in the market.
The NBS report for March 2017 had indicated that inflation rate slowed further to 17.26 percent YoY in March from 17.87 percent YoY in February.
Giving a Month-on-Month, MoM, analysis of the parameters, economists at Cardinal Stone Partners Limited, a Lagos based investment house, stated: ‘‘The relatively slower pace of increase in YoY headline CPI (Consumer Price Index) primarily reflects the impact of base effects given the significant jump in the index in the corresponding period of 2016.   Click here to continue reading

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