Nigeria's Inflation Drops to 16.10% in June 2017

Nigeria's Inflation Drops to 16.10% in June 2017

Recreational and cultural goods, which includes computer games, was also driving overall prices lower after dropping by 0.1% on the month following a rise of 0.6% over the same period past year.

According to the stat office, on a month-on-month basis, the headline index increased by 1.58 percent in June 2017, 0.30 percent points lower than the rate of 1.88 percent recorded in May 2017.

Statistics NZ reported the consumer price index didn't increase at all in the three months to June, bringing the annual inflation rate down from 2.2 per cent to 1.7 per cent.

Sterling hit 1.310 against the U.S. dollar and was flat against the euro at 1.136 ahead of the latest cost of living data.

Output prices rose at their slowest rate since December of previous year, up 3.3 percent, in line with the Reuters poll.

The month-on-month Food and Non Alcoholic Beverages inflation rate stood at -0,45 percent in June 2017, shedding 0,52 percent on the May 2017 rate of 0,07 percent.

The data weakens arguments for an immediate interest-rate hike that a minority of policy makers supported at the last BOE decision as inflation looked set veer further above the 2 percent target. "However, the rate remains higher than in the recent past", ONS Deputy National Statistician Jonanthan Athow said in a statement.

Today's data will likely add to that view and quell any expectations that the central bank might soon join others - like the Bank of Canada - that have lifted or are expected to lift rates soon. Domestic airfares were down 14.5 percent on the quarter while worldwide air transport rose 3.7 percent. While the economy has held up better than many expected in the wake of the Brexit referendum, growth slowed to 0.2 percent in the first quarter of the year. Prices for new housing rose 1.8 percent in the June quarter for an annual increase of 6.4 percent. In May the bank said prices would grow by 0.3% in the second quarter.

The fall was far bigger than economists had expected, pushing down the value of sterling against the United States dollar to $1.303 at the time of writing, undoing the gains of the past two sessions.

The tradables consumers price index, which includes goods and services that compete with global rivals, fell 0.2 percent in the quarter but rose 0.9 percent on the year. Household energy, which includes electricity, gas and solid fuels rose 1.5 percent on the quarter and 1.8 percent on the year.

StatsNZ said that tradable prices - those impacted by global markets - rose by 0.9% over the year, overshadowed by a 2.4% lift in non-tradable (domestic influenced) prices over the same period.

Related News:



Most liked

Garth Brooks offers to pay for couple's Hawaii honeymoon
A video posted to Facebook by user Amanda Canseco Littlejohn shows the entire interaction at the Chesapeake Energy Arena. Drew Bargsley proposed to his girlfriend, Chelsea Townsend , while Brooks played his hit " Unanswered Prayers ".

MLAs vote to elect next President
Siddaramaiah was authorised by the Congress High Command to muster all votes necessary for their candidate in the state. Former CM Bhupinder Singh Hooda said, "This time, the MLAs have voted after listening to their inner voice".

Turkey extends state of emergency
Erdogan attended the "National Unity March" and unveiled statutes and memorials in honor of those who helped thwart the coup. More than 50,000 people have been jailed and another 150,000 suspended or fired from work on suspicion of links to Gulen.

Actress Jyothi joins her son in Hostel for Bigg Boss show
Bigg Boss Telugu started off on a controversial note when a promo showed the actor looking through a peephole. Of Course, all the contestants also have super excited for to participate in the Bigg Boss Show.

Hyundai i30 Fastback: All You Need To Know Right Now
The 1.4-litre T-GDI petrol engine is offered with the six-speed manual transmission or the seven-speed dual clutch transmission. But, the new i30 Fastback coupe may be the solution to the boredom Hyundai Motor Europe's senior is referring to here.

Delays at Gatwick as plane bursts tyre on take-off
This incident has also caused several delays in the arrivals at Gatwick airport as no plane could land until the flight of Air Canada to come back to earth.

From 'Game of Thrones' soldier, Ed Sheeran gets 'Simpsonized'
Ed Sheeran's Game Of Thrones cameo appearance on Monday garnered mixed reactions on social media. On Twitter, one viewer called Ed's appearance "random" and likened it to an 'SNL skit'.

Penneys Recalling Thousands Of Men's Flip Flops
Three of Primark's own-brand flip-flops are being recalled after they were found to contain a chemical that can cause cancer. A spokesperson for Penneys said that stores in Ireland didn't sell these model - so the recall doesn't affect Irish stores.

Google Home And Google WiFi: Australian Release Date And Pricing
Nine months after its debut in the United States , it is finally available to buy in Australia - complete with a dinky-di accent. Google is making an overdue push into Aussie homes this week with the local launch of its Google Home and Google Wifi gadgets.

Google Maps has started showing a travel time graph for directions
The feature was reported by Android Police , and is now believed to be rolling out to all Android users in the U.S. and the UK. You will see the time so you can at least have an idea or frame of reference for the distance and time to travel.

Ed Sheeran Makes Cameo in 'Game of Thrones' Premiere
On Twitter, one viewer called Ed's appearance "random" and likened it to an 'SNL skit'. Will appear by the following episodes of " Game of Thrones " is still unknown.

South Korea proposes military talks with North Korea amid growing hostility
South Korea's Vice Defence Minister Suh Choo-suk talking to media said that meeting could be held at Tongilgak, which was earlier used to hold previous talks.

Wimbledon: Lukasz Kubot and Marcelo Melo win the Men's Doubles final
The fourth seeds were broken in the 11th game of the match and lost the first set before bouncing back to claim the next two. Wimbledon champions Elena Vesnina and Ekaterina Makarova .

Another dual-national Greens senator Larissa Water resigns
The resignations mean the Greens have lost two of their strongest performers in Australian Parliament in less than a week. Waters has been an Australian Senator since 2011 representing Queensland and was the deputy leader of the Greens.

EU Weighs New North Korea Sanctions After Missile Test
The meeting, proposed by the ministry would be the first meeting Korean official since December 2015. North Korea imports nearly all of its oil and gas from China; most of that comes through CNPC.