The recent inflation report by the National Bureau of Statistics shows that inflation rate dropped marginally to 18.12% in the month from 18.17% in March.
Experts have opined that the marginal percentage drop in the inflation rate to 18.12% from 18.17% is a good hope for the country.
For the past 19 months consecutively, inflation has been rising. For the first time in the month of April, inflation came down. This is not harvest time, yet inflation is coming down. It shows that there is light in the tunnel and likely we are expecting more positive result in the near future because this is not harvest time. Prices of food will go down and invariably affect the other inflation index. More positive results are likely to bring down the inflation especially with the new Foreign Exchange policy introduced by the CBN.