September inflation comes in lower than expected   

16 October 2018 : Inflation rose from 11.2% y/y in August to 11.3% y/y in September, well below Vetiva (11.6% y/y) and Consensus (11.5% y/y). Month-on-month (m/m) inflation moderated from 1.05% to 0.84%, the lowest since April 2018 amid a drop in m/m food inflation from 1.42% to 1.00%—also the lowest since April. This slowdown in inflation is a surprise considering recent inflationary pressure as a result of disruptions to food production due to the herdsmen crisis and flooding in the Middle Belt. However, the moderation in m/m food inflation is likely due to the onset of the harvest season which should last till the end of the year and offers some respite to recent food price pressure. 

Reporting for EasyKobo on Tuesday ,16 October 2018 in Lagos, Nigeria

Source: Vetiva Capital Management Limited

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