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Inflation Rate For March 2014 Rises To 7.8%. These Household Items Are To Blame

Nairametrics by Nairametrics
April 16, 2014
in Uncategorized
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The National Bureau of Statistics revealed Nigeria’s Inflation Rate now stands at 7.8% for March 2014 compared to 7.7% for February 2014. Prices rose by 7.8 percent (year-on-year) in March, marginally higher from 7.7 percent recorded in the previous month. Inflation rate has been stable in the last few months and as the Bureau put it in a “moving in a choppy fashion”.

The latest increase was mainly attributed to the following;

On the food side

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On a month-on-month basis, the highest price increases were recorded in the Fish, Fruit; and
Potatoes, Yams and Other tubers classes.

Other Items

The increase in the Core sub-index was as a result of price increases across various class items in particular; Wine, Carpets
and other floor coverings; Repair of household appliances, and Fuels and lubricants for personal transport equipment
Prices have moved in a 0.3 percentage point band ranging between 8.0 percent and 7.7 percent

Tags: inflation rateNews Review
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Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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