Nigeria’s inflation falls slightly in March   

17 April 2019 : In a favourable development, Nigeria’s inflation has eased to 11.25% in March from 11.31% in February, despite speculation of increased government spending stoking inflationary pressures.

With consumer prices moderating closer towards the Central Bank of Nigeria’s target band of 6%-9%, this may open the doors for the central bank to make a move in the future. While it remains premature to speculate on the possibility of another rate cut occurring anytime soon following the surprise move in March, repeated signs of easing inflationary pressures could prompt the CBN to cut rates again during the second half of 2019.

Source : Lukman Otunuga, FXTM Research Analyst 

Reporting for EasyKobo on Wednesday , 17 April 2019 in Lagos, Nigeria

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