FSDH expects inflation rate to drop to 10.94% in June
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