NBS shifts release of June inflation report to July 27

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The National Bureau of Statistics (NBS), says the release of June 2018 consumer price index/inflation report would now be on Monday, July 27 instead of Friday, July 13.

Yemi Kale, the statistician general and director general of the agency in a tweet Thursday, June 12, said the shift in the date of the release of the report is as a result of delays out the control of the NBS.

“Please note that due to delays out of the control of the NBS, June 2018 Consumer Price Index/Inflation report will NOW be released Monday 23/07/2018 at 8.15am and not Friday 13/07/2018 as earlier advertised. We regret any inconvenience,” he said.

The agency has been timely in the release of inflation figures, which had slowed considerably in the past 16 months.

In an early inflation rate call for June, analysts at FBNQuest Research are projecting that growth in Nigeria’s inflation will further slow when the numbers come in from the state statistics office. The National Bureau of Statistics only recently released the inflation rate for the month of May also showing a slowing in inflation growth.

In their daily economic report, distributed more than two weeks ago, the analysts predicted that the rate of inflation will be as low as 10.8 percent in June from 11.61 percent in May.

If this prediction pulls through it will be a decline of 81 basis points from May figures as well as the 17th consecutive decline since January 2017.

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