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Inflation Dips To 17.93% In May, NBS Confirms
Nigeria’s inflation rate dropped to 17.93 per cent in May, 2021, from 18.12 per cent recorded in April, 2021.
The National Bureau of Statistics (NBS) revealed this in its monthly Consumer Price Index report released, yesterday.
The drop in the headline inflation in May was the second consecutive month this year.
The report indicates that the consumer price index (CPI), which measures the inflation rate increased by 17.93 per cent (year-on-year) in May, 2021, which is 0.19 per cent points lower than the rate recorded in the preceding month.
According to NBS, food inflation dropped in the same month from 22.78 per cent recorded in April, 2021 to 22.28 per cent in May, 2021.
The report reads, ‘‘All items less farm produce which excludes the prices of volatile agricultural produce stood at 13.15 per cent in May, 2021, up by 0.41 per cent when compared with 12.74 per cent recorded in April, 2021.
‘‘The highest increases were recorded in prices of pharmaceutical products, garments, shoes and other footwear, hairdressing salons and personal grooming establishments, furniture and furnishing, carpet and other floor covering.
‘‘Others include, motor cars, Hospital services, fuels and lubricants for personal transport equipment, cleaning, repair and hire of clothing.
“Other services include personal transport equipment, gas, household textile, and non-durable household goods,” the NBS added.
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RSG INAUGURATES ARMED FORCES REMEMBRANCE DAY COMMITTEE
The Rivers State Government has inaugurated a Central Planning Committee to organize the celebration of the 2026 Armed Forces Remembrance Day (AFRD) in the State.
The committee was formally inaugurated by the Secretary to the State Government, Dr. Benibo Anabraba in Port Harcourt, last Thursday.
Dr Anabraba who also serves as Chairman of the Committee
highlighted the State Government’s deep appreciation for the sacrifices of Nigeria’s fallen heroes who laid down their lives for the nation’s peace and unity.
“These heroes have given their lives for the security and peace of our nation and deserve to be celebrated. The Armed Forces Remembrance Day is an opportunity to show our gratitude for their sacrifice,” he said.
Dr. Anabraba further extended recognition to all Security Agencies in the State, emphasizing the importance of the event in appreciating their contributions to national security and sovereignty.
The annual Armed Forces Remembrance Day, observed on January 15 across the country is dedicated to remember Nigeria’s departed soldiers and honouring the nation’s veterans.
