Alexandria Ferguson
TITLE: Inflation Rate Fell to 8% in September-NBS
AUTHOR: OKECHUKWU NNODIM
SOURCE: The Punch
According to the National Bureau of Statistics, the inflation rate in the country fell from 8.2% to 8% in September. The decrease of inflation was caused by slower rate of increase in food prices. “In September, the CPI, which measures inflation, rose by eight percent year-on-year, 0.2 percentage points lower from 8.2 percent recorded in August. The year-on-year rate for the headline index continues to trend downwards from the nine per cent recorded in January 2013,” the NBS stated in the report. The NBS stated that the rate of increase in food prices averaged for the second week in September as produce from the ongoing harvest continued to put downward pressure on the food sub-index.
That is amazing, depending on the rates of falling inflation determines how the food prices will increase.
ReplyDeleteI hope the prices of food don't get too high.
ReplyDelete