Nigeria’s headline inflation declined again for the 16th consecutive time to 11.61% in May, in line with the analysts and consensus forecast. The cumulative decline in inflation in 2018 is now 3.52%. All sub indices and baskets moved in tandem with the headline inflation.
A disturbing trend however is the uptick in month-on-month inflation to 1.09%, annualized at 13.97%, which means that we might be approaching the end of the declining cycle.
In the attached bulletin, the FDC Think-Tank analyses inflationary movements in May.
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