The Consumer Price Index (CPI), which measures the rate of change in prices of goods and commodities eased to18.02 per cent in September, from 20.12 per cent in the preceding month, National Bureau of Statistics (NBS) said yesterday.
Year-on-year, headline inflation stood at 14.68 per cent, lower than 32.70 per cent in September 2024. According to the CPI report for the month under review, which was released by the statistical agency, the 2.1 per cent drop in inflation followed moderation in food and energy prices.
Centre for the Promotion of Private Enterprise (CPPE) welcomed the continued moderation in inflation, describing it as a significant indicator of improving macroeconomic conditions and policy traction.
Chief Executive Officer of CPPE, Muda Yusuf, however, stated that the cost-of-living crisis remained acute, particularly for low- and middle-income households.
The moderation in prices also came at a period of relative stability in Foreign Exchange (FX). Month-on-month, inflation stood at 0.72 per cent in September, lower than 0.74 per cent in August.
Year-on-year, food inflation stood at 16.87 per cent in September, compared to 37.77 per cent in the corresponding period of 2024.
