The Consumer Price Index, (CPI) which measures inflation dropped to 16.63 per cent (year-on-year) in September compared to 17.01 per cent in the preceding month.

According to the National Bureau of Statistics (NBS), the 0.38 per cent reduction in inflation was occasioned by price moderation in all the parameters that determine the headline index.

The composite food Index slowed to 19.57 per cent in September compared to 20.30 per cent in August.

The food index was reflected in the prices of oils and fats, bread and cereals, food product N.E.C., fish, coffee, tea and cocoa, potatoes, yam and other tuber and milk, cheese and egg.

The “All items less farm produce” or core inflation, which excludes the prices of volatile agricultural produce stood at 13.74 per cent in September up by 0.33 per cent compared with 13.41 per cent recorded in August.

The highest increases were recorded in prices of gas, household textile, garments, motor car, game of chance, and ma­jor household appliances whether electric or not.

Other are passenger transport by air, hospital services, other services in re­spect personal transport equipment, wine, clothing materials, other articles of clothing and clothing accessories, non-durable household goods.

Justin Nwosu

Justin Nwosu is the founder and publisher of Flavision. His core interest is in writing unbiased news about Nigeria in particular and Africa in general. He’s a strong adherent of investigative journalism, with a bent on exposing corruption, abuse of power and societal ills.