Nigeria Inflation Rate Edges Up in March

Nigerian annual inflation rate rose for the fourth consecutive month to 8.5 percent in March of 2015, touching the highest in 7 months and driven by food prices.
National Bureau of Statistics | Joana Ferreira | joana.ferreira@tradingeconomics.com 4/16/2015 12:45:35 PM
Compared to March of 2014, food cost grew 9.4 percent, the same pace of February, and imported food prices grew 8.9 percent.

Additional upward pressures came from: housing, water, electricity and gas (+6.6 percent); clothing and footwear (+8.8 percent); transport prices (+7.3 percent); furnishings and household equipment (+8.9 percent); education (+7.8 percent); health (+7.9 percent); miscellaneous goods and services (+8.3 percent); hotels, cafés and restaurants (8.7 percent); alcoholic beverages, tobacco and kola (+8.2 percent).

Annual core inflation rate grew to 7.5 percent from 7.0 percent last month.

On a monthly basis, consumer prices rose 0.9 percent as food cost went up 1 percent (+0.7 percent in February) boosted by higher cost of fruit, fish, potatoes and other food products.

Nigeria Inflation Rate Edges Up in March