cbn statement, 2012-03-20
Given the partial removal of fuel subsidy in January the moderation in inflation in February is probably attributable to a number of variables including: reallocation of spending by consumers due to higher expenditure on transport and fuel; the slowdown in monetary aggregates and fiscal spending; the stable and strengthening exchange rate of the naira; seasonal effect of food prices and statistical base effects.
Sentiment: neutral
Topic: mp_inflation