Nigeria’s inflation has unexpectedly dropped to 18.12 per cent twenty consecutive months as high food prices compounded the misery of consumers in April.
This is against the 18.17 per cent recorded in March 2021.
Monday inflation numbers represents the second highest since January 2017 when inflation was at 18.72 per cent.
The National Bureau of Statistics disclosed in its report released on Monday that food inflation fell slightly to 22.72 per cent in April from the 22.95 per cent recorded in March.
The food prices rate is the second highest recorded in the country since 2009, NBS previous records reveal.
Food inflation had risen by 21.29 per cent in February and 20.57 per cent in January 2021.
In the last four months, inflation had risen 18.17 per cent, 17.33 per cent, 16.47 per cent and 15.75 per cent in March, February, January and December respectively.