A Don, Dr Austine Nwaeze, has urged the apex bank to sustain its current monetary policy to curb the nation’s inflation rate.
Nwaeze, who teaches Economics at the Pan Atlantic University, Lekki, Lagos said this in an interview with the News Agency of Nigeria (NAN) in Lagos on Friday.
The lecturer, who was reacting to the inflation figures released by the National Bureau of Statistics (NBS) on Friday in Abuja, noted that a lower inflation rate would lead to price stability.
NAN reports that the Consumer Price Index (CPI) released by NBS showed that inflation decreased to 11.37 per cent (year-on-year) in January 2019 compared to 11.44 per cent in December 2018.
According to the CPI figures, urban inflation rate also decreased to 11.66 per cent (year-on-year) from 11.73 per cent December, while the rural inflation rate dropped to 11.11 per cent from 11.18 per cent in December.
However, core inflation, which excludes the prices of volatile agricultural produce stood at 9.9 per cent in January, representing an increase of 0.1 per cent compared with 9.8 per cent recorded in December.
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