Retail inflation increases to 4.58% in April

Analysts expect Nigeria’s inflation rate to drop to its lowest in 3 years

The annual inflation rate based on the Wholesale Price Index rose to a four-month high of 3.18% in April from 2.47% a month ago, the Commerce Ministry said on Monday.

The index for "Food Articles" group rose by 1.9 percent to 139.8 (provisional) from 137.2 (provisional) for the previous month due to higher price of tea (18%), peas/chawali (13%), fruits & vegetables (8%), fish-marine (4%) and pork, paddy and maize (1% each).

WPI inflation was at 2.47% in the previous month and 3.85% during the corresponding month of the previous year.

Primary articles, which accounts for more than a fifth of the entire wholesale price index, grew 1.41 percent in April from 1.03 percent year a percent ago and 0.24 percent in March. However, potato showed the highest rise in price, at 67.94% in April 2018 as compared to April past year.

The contribution of primary articles to the overall inflation of 3.2% increased to 36 basis points (bps) in April 2018, up from contribution of 06 bps to 2.5% in March 2018.


"The government may prefer to wait for additional information about the level at which the monthly GST revenues stabilise after the e-way bill introduction, before reducing excise duty on fuels", she said. It also slashed CPI inflation estimate to 4.7-5.1 percent in April-September, 2018-19 and 4.4 percent in the next half of the year, including the impact of house rent allowance.

"The global rise in crude oil prices remains a key risk for the inflation trajectory".

In its first monetary policy review for the fiscal, the Reserve Bank last month maintained status quo on interest rate citing inflationary concerns.

The central bank revised downward forecast for retail inflation to 4.7-5.1 per cent for April-September and 4.4 per cent for October-March.

Related News:

  • 'Solo: A Star Wars Story' Writer Reveals Who [SPOILERS] Is Playing

    At least, not until director Ron Howard set up an epic surprise for Ehrenreich during an interview with " Entertainment Tonight ". It's no secret that a majority of Star Wars fans have been anxious about the overall quality of Solo , which releases next week.
    Is Celtics' Playoff Run Bothering Kyrie Irving? Chris Broussard Has Wild Thought

    Is Celtics' Playoff Run Bothering Kyrie Irving? Chris Broussard Has Wild Thought

    Yet, Boston won 55 games during the regular season and increased its win total for the fifth consecutive season under Stevens. Certainly Cleveland can end that fun if it can reach the NBA Finals for the fourth straight year. "It's not just this year".
    SCOTUS Paves Way For Legalized Sports Betting Outside Nevada

    SCOTUS Paves Way For Legalized Sports Betting Outside Nevada

    It exempted Nevada , where sports betting has always been legal, along with sports lotteries in Delaware, Montana and Oregon. West Virginia and 17 other states, and the governors of three more, sided with New Jersey in the case.
  • Winds blow bounce house with child inside onto a highway

    Winds blow bounce house with child inside onto a highway

    The bounce house had been inflated at a nearby home where the child was playing when it started rolling towards the highway. The driver of the vehicle that hit the bounce house was shaken up, but uninjured, according to the Press-Enterprise.
    Taraji P. Henson engaged

    Taraji P. Henson engaged

    Henson and her boyfriend Kevlin Hayden are now engaged . "I said yes y'all!", Taraji posted in a message to her fans. A Cartier bracelet and a giant rock all in one day? She told the hosts, that's just not her style.
    Yates extends overall lead in the Giro D'Italia

    Yates extends overall lead in the Giro D'Italia

    Simon Yates of MItchelton-Scott has extended his lead at the Giro d'Italia after winning the Stage 9 summit finish on the Gran Sasso .
  • Overwatch anniversary event date and new Junkrat skin revealed

    Overwatch anniversary event date and new Junkrat skin revealed

    New items include eight Legendary skins and three Epic skins, and additional dance emotes for Doomfist, Moira, and Brigitte. If you decide to buy the 50 Loot Box Bundle, you'll receive an additional Legendary Anniversary Loot Box for free.
    Reliance Jio files complaint against Airtel over Apple Watch eSIM service

    Reliance Jio files complaint against Airtel over Apple Watch eSIM service

    The reason being, the network related infrastructure for pairing the Watch with iPhone isn't set inside India. After the revision of the Airtel prepaid plan 149, the plan now competes with the Reliance Jio Plan 149.
    AMG GT Roadster range expands with 384kW 'S'

    AMG GT Roadster range expands with 384kW 'S'

    The company also offers an AMG carbon-fibre package and an AMG Night package as a few optional packages for the exterior. The model, which is based on the standard GT S, has been slotted between the AMG GT Roadster and the AMG GT C Roadster .
  • Bad News For Galaxy Note 9, Good News For Galaxy S10

    The Smartphone will come with Android 8.0 Oreo and will sport a 5.8-inch display powered by a 3000mAh battery. The device is powered by 2GB or 3GB RAM, 1.4GHz quad-core Exynos 7570 processor , and Android 8.0 Oreo.
    Juventus 2017-18: Bianconeri's seventh straight Scudetto in Opta numbers

    Juventus 2017-18: Bianconeri's seventh straight Scudetto in Opta numbers

    Roma's place in next year's Champions League was confirmed yesterday as Inter were beaten at home by Sassuolo. Instead, Napoli went into the Fiorentina game trailing by four points and lost 3-0.
    Iran Welcomes Restoration of Peace, Security to Armenia

    Iran Welcomes Restoration of Peace, Security to Armenia

    Alternation of power in Armenia may not mean a great change of the course of the country, Estonian Foreign Minister Sven Mikser said .


Most liked

Catalan parliament to vote for new president on Monday
Torra tried - and failed - to be appointed on Saturday at an initial parliamentary vote that required an absolute majority. Unionist leader Ines Arrimadas of the anti-independence Ciudadanos party called Mr Torra a mere "puppet for Puigdemont".

Facebook suspends 200 apps following Cambridge Analytica scandal
The company has also built a website that notifies users if their data has been misused. The quiz app was used by millions prior to being suspended.

Cate Blanchett & Agnès Varda Lead Women's March At Cannes Film Festival
We WILL DEMAND that our workplaces are diverse and equitable so that they can best reflect the world in which we actually live. The pledge was drawn up by the French gender-parity group 50/50 by 2020, which brought in other groups including Time's Up .

Salmonella Outbreak Linked to Tainted Eggs Causes a Dozen More Illnesses
In 2010, a salmonella outbreak led to the massive recall of more than 1 billion eggs from Iowa farms. Salmonella Braenderup can cause fever, diarrhea, nausea, vomiting and abdominal pain.

Researchers warn of critical flaw affecting PGP and S/MIME
The team's leader researcher, Sebastien Schinzel, admitted that: " E-mail is no longer a secure communication medium". For the HTML risk, the researchers advise that OpenPGP and S/MIME users simply disable HTML rendering.

Lenovo Z5 Is What An All-Screen Phone Looks Like
Other than that, there were no details about where in the production process the Z5 is, or if that process has even started yet. It works to remove the notch, but to some it might not be worth having to drop the edge-to-edge claim.

Drake and Migos Announce Tour and Denver Concert
American Express card members can purchase tickets before the general public beginning at 10 a.m. The Aubrey & the Tree Amigos tour will arrive at the Smoothie King Center on September 24.

Italy's new government makes economic promises
The leader of the country's anti-establishment Five Star Movement says he has reached an accord with the right-wing League. If Mattarella is satisfied with their choice, Italy could have a government in place by the end of the week.

Controversial US pastors take part in Jerusalem embassy opening
I'm going to be thanking God for the strong leadership of Benjamin Netanyahu, who is absolutely determined to protect Israel. Not deterred, an unimpressed Jeffress responded to essentially say there's nothing to see here.

Atletico Drag UEFA To CAS Over Simeone Ban
Madrid plays Villarreal in the final round of the Liga season before the Champions League final on May 26 in Kiev. In other matches, Valencia won at Girona 1-0, Alaves beat Athletic Bilbao 3-1, and Eibar edged Las Palmas 1-0.

Ryan Reynolds Dresses As Rainbow Unicorn To Sing "Annie" Showtune
Irish YouTube creator Seán ' Jacksepticeye ' McLoughlin teamed up with Marvel star Ryan Reynolds for a YouTube video. You guys pushed me to my own limits, and I thank you for that". " Deadpool 2 " premieres in theatres on May 18.

Boston Dynamics SpotMini to Start Selling in 2019
The four-legged robot extends its mechanical arm, turns the door handle and opens it, letting both robots through. It's unclear how much the robots will cost or who will be eligible to purchase them.

'Lost' asteroid to pass closely May 15
The asteroid will fly over the earth at a staggering 28,000 miles per hour and it will be between 60 and 130 meters. Our display will update every five seconds", Guy Wells , the founding member of the observatory, told EarthSky .

Born bishop to preach at royal wedding
Prince Harry and Meghan Markles relationship is transatlantic, and now their wedding ceremony will be too. Welby said on Twitter that he was thrilled the couple selected Curry to give the address.

Sonam Kapoor ties the knot!
Other actresses including Hazel Keech, Sagarika Ghatge and Sonam Kapoor chose to wear red on their wedding day itself. Sonam Kapoor known not just for her powerful on-screen performances but also for her great taste in fashion.