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LAGOS May 16 Annual inflation in Nigeria eased
for the third straight month in April, inching down to 17.24
percent from 17.26 percent in March, the National Bureau of
Statistics said in a report.
A separate food price index, however, showed inflation there
rose to 19.30 percent from 18.44 percent in March.
"This is the third consecutive month of a decline in the
headline CPI rate, exhibiting effects of some easing in already
high food and non-food prices, as well as favourable base
effects over 2016 prices," the report stated.
Annual inflation fell in March and the month prior to that.
The fall in February was the first drop in inflation in 15
Nigeria, which has Africa's largest economy, is in its
second year of recession and is contending with a currency
crisis and dollar shortages brought on by low oil prices, which
is the OPEC member's mainstay.
(Reporting by Alexis Akwagyiram and Oludare Mayowa; Editing by