By Abdul Tukur

Nigeria’s inflation has dropped for the third consecutive month.

The National Bureau of Statistics, NBS, said the Consumer Price Index, CPI, dropped from 17.26% in March to 17.24 % in the month of April.

READ ALSO – https://denisaurus.com/2017/05/16/ons-figures-show-inflation-at-its-highest-level-since-september-2013/

The CPI which measures inflation rate in Africa’s most popular country, shows some easing in high food and non-food prices. It also provides a favorable base effect over 2016 prices.

According to the date released today (May 16), top items to have recorded the highest year-on-year increase were solid fuels, bread and cereals, meat, liquid fuels and clothing materials.

The Urban Index went down to 17.62% from 18.27%.

READ ALSO – http://www.nigerianstat.gov.ng/report/552

READ ALSO – https://denisaurus.com/2016/11/21/nigerias-economy-continues-to-contract/

This figures shows that the Nigerian economy is gradually coming out of the recession.