BREAKING: Inflation rate declines for the first time in 20 months

The consumer price index which measures inflation decreased to 18.12 per cent (year-on-year) in April 2021.

The National Bureau of Statistics disclosed this in its Consumer Price Inflation report for April on Monday. It stated that the latest figure is 0.05 per cent in March.

This is the first decline in the inflation figures in the past 20 months. The inflation rate had peaked at 18.17 percent in March.

Also, the food inflation also reduced to 222.75 percent on a year-on-year basis from 22.95 percent in March. While Core Inflation increased to 12.74% in Apr 2021 from 12.67% in Mar 2021.

April 2021 CPI/Inflation report published @ https://t.co/e8mqkDBo19

YEAR on YEAR:

Headline Inflation at 18.12% in April 2021 from 18.17% in March 2021

Food inflation at 22.72% in Apr 2021 from 22.95% in Mar 2021

Core Inflation at 12.74% in Apr 2021 from 12.67% in Mar 2021 pic.twitter.com/GJEbNN6FUy

— Dr Yemi Kale (@sgyemikale) May 17, 2021

More details shortly …