May 21, 2021/Cowry Asset Report

Freshly released data from the National Bureau of Statistics (NBS) showed that headline inflation slowed down for the first time in 20 months.

It recorded a 18.12% decline in annual inflation rate for the month of April (lower than 18.17% in March). This southward movement was majorly driven by a slower increase in the food index to 22.72% (from 22.95% in March) on the back of a rise in prices of coffee, tea, milk, bread, cereals, potatoes, yams and other tubers, meat, as well as fruits amongst others

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