NBS inflation figure for December seems understated

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Uche Uwaleke

The latest Consumer Price Index report by the National Bureau of Statistics discloses that the CPI, which measures inflation, moderated to 15.37 per cent in December 2017 down from 15.90 per cent the previous month making it the 11th consecutive disinflation in headline year-on-year inflation since January 2017. Highlights of that report, published on January 16 2018, include a drop in the urban inflation rate to 15.78 per cent (year-on-year) in December from 16.27 per cent recorded in November 2017, while the rural inflation rate also eased by 15.02 per cent in December from 15.59 per cent in November.

The report also indicates that the Food Index decreased by 19.42 per cent (year-on-year) in December, down from the 20.30 per cent recorded in November while the “All Items less Farm Produce” or Core sub-index, which excludes the prices of volatile agricultural…



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