{"id":15577,"date":"2019-09-17T15:25:50","date_gmt":"2019-09-17T15:25:50","guid":{"rendered":"https:\/\/www.africa-press.com\/nigeria\/?p=15577"},"modified":"2019-09-17T15:25:50","modified_gmt":"2019-09-17T15:25:50","slug":"inflation-declines-further-to-11-02-on-weak-consumer-demand","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/all-news\/inflation-declines-further-to-11-02-on-weak-consumer-demand","title":{"rendered":"Inflation Declines Further to 11.02% on Weak Consumer Demand"},"content":{"rendered":"<p>The Consumer Price Index (CPI) which measures inflation maintained a downward trajectory to 11.02 per cent (year-on-year) in August compared to 11.08 per cent in July, according to the National Bureau of Statistics (NBS).<\/p>\n<p>The disinflation continued despite several policy pronouncements on restrictions on the import of some food items, minimum wage as well as the recent border closures.<\/p>\n<p>The NBS, in the CPI report for August, released Tuesday, further explained that, \u201cthe border was only closed 20 August 2019 with only 11 days of 31days for any<\/p>\n<p>significant impact to be felt either way on prices.<\/p>\n<p>\u201cThe inflation rate is also the average prices for the whole month and not only the price of goods and services in the last few days of the month.\u201d<\/p>\n<p>It said:\u201dFurthermore, the harvest season and existing weak consumer demand and their natural effect to slow down food and other prices will also play a major role in determining the direction of inflation.<\/p>\n<p>\u201cAgainst this backdrop, in August 2019, all major indices slowed except urban inflation year on year.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Consumer Price Index (CPI) which measures inflation maintained a downward trajectory to 11.02 per cent (year-on-year) in August compared to 11.08 per cent in July, according to the National Bureau of Statistics (NBS). The disinflation continued despite several policy pronouncements on restrictions on the import of some food items, minimum wage as well as [&hellip;]<\/p>\n","protected":false},"author":62,"featured_media":1730,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[105,365,249,845],"class_list":["post-15577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-economy-of-nigeria","tag-inflation","tag-minimum-wage","tag-price-of-goods"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Inflation Declines Further to 11.02% on Weak Consumer Demand - Nigeria<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/all-news\/inflation-declines-further-to-11-02-on-weak-consumer-demand\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inflation Declines Further to 11.02% on Weak Consumer Demand\" \/>\n<meta property=\"og:description\" content=\"The Consumer Price Index (CPI) which measures inflation maintained a downward trajectory to 11.02 per cent (year-on-year) in August compared to 11.08 per cent in July, according to the National Bureau of Statistics (NBS). 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