An Ugly Data Showed Up In March Inflation Report

Nairametrics| The National Bureau of Statistics released its 2017 March Consumer Price Index showing inflation rate rose 17.26%. This is the second month in succession that the annual inflation rate will trend lower. For the government, this is proof that the economy might be turning the corner. In February inflation rate was 17.78% a huge drop from the 18.87 which at the time was the highest inflation rate since September 2005.

While the continued decrease in headline inflation rate may be good sign for the economy, the month on month inflation rate is throwing up signs of its own. The signs are unfortunately not as good as the headline inflation rate. It is ugly.

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