Inflation hits 18.17 percent

0

CBN

UPDATED: Inflation rate maintains upward trend, hits 18.17% in March -  Flying Eze
Olusola Bello

The consumer price index, (CPI) which measures inflation increased by 18.17 percent (year-on-year) in March 2021. This is 0.82 percent points higher than the rate recorded in February 2021 (17.33 percent).
The corresponding twelve-month year-on-year average percentage change for the urban index is 15.15 percent in March 2021. This is higher than 14.66 percent reported in February 2021, while the corresponding rural inflation rate in March 2021 is 13.99 percent compared to 13.48 percent recorded in February 2021.
According to a release by the National Bureau for Statistics on Thursday, increases were recorded in all COICOP divisions that yielded the Headline index.
On month-on-month basis, the Headline index increased by 1.56 percent in March 2021. This is 0.02
percentage points higher than the rate recorded in February 2021 (1.54 percent).
On a month-on-month basis, the urban index rose by 1.60 percent in March 2021, up by 0.02 compared to
the rate recorded in February 2021, while the rural index also rose by 1.52 percent in March 2021, up by
0.02 compared to the rate that was recorded in February 2021 (1.50 percent).
The consumer price index, (CPI) which measures inflation increased by 18.17 percent (year-on-year) in
March 2021. This is 0.82 percent points higher than the rate recorded in February 2021 (17.33 percent).
The corresponding twelve-month year-on-year average percentage change for the urban index is 15.15
percent in March 2021. This is higher than 14.66 percent reported in February 2021, while the
corresponding rural inflation rate in March 2021 is 13.99 percent compared to 13.48 percent recorded in
February 2021.
Increases were recorded in all COICOP divisions that yielded the Headline index.
The percentage change in the average composite CPI for the twelve months period ending March 2021, over the average of the CPI for the previous twelve months period was 14.55 percent, representing a 0.50 percent point increase over 14.05 percent recorded in February 2021.
The urban inflation rate increased by 18.76 percent (year-on-year) in March 2021 from 17.92 percent  recorded in February 2021, while the rural inflation rate increased by 17.60 percent in March 2021 from  16.77 percent in February 2021.

Leave a Reply

Your email address will not be published. Required fields are marked *