FSDH ex­pects in­fla­tion rate to drop to 10.94% in June

Daily Trust - - BUSINESS - From Sun­day Michael Ogwu, La­gos

FSDH Re­search says it ex­pects in­fla­tion rate (year-on-year) to drop to 10.94% in June 2018 from 11.61% recorded in May

It noted that con­sumer prices in­creased in June but at a lower rate than the in­creases recorded in May

The head of re­search, Ay­o­dele Ak­in­wunmi said: “The prices of most of the food items that FSDH Re­search mon­i­tored in June 2018 in­creased, lead­ing to a 1.10% in­crease in our Food and NonAl­co­holic In­dex. This In­dex in­creased year-on-year by 12.43%, up from 245.10 points recorded in June 2017

“We also ob­served an in­crease in the prices of Trans­port and Hous­ing, Wa­ter, Elec­tric­ity, Gas & Other Fu­els di­vi­sions be­tween May and June 2018.”

The Food Price In­dex (FPI) that the Food and Agriculture Or­ga­ni­za­tion (FAO) pub­lished for the month of June 2018 dropped by 1.3% from the level recorded in May.

The de­cline recorded in June was the first month-on-month de­cline in 2018

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