Contrary to analysts’ projections of a third consecutive month rise in inflation rate, Nigeria’s headline inflation rate fell to 11.26 per cent, year-on-year, YoY in October 2018, down from 11.28 percent YoY in September. National Bureau of Statistics, NBS, disclosed this in its October 2018 inflation report released yesterday. After 18 months of steady decline, the inflation rate rose steadily for two months from 11.14 percent in July to 11.23 percent in August and to 11.28 percent in September. Most analysts projected that the rising trend will persist in October. While analysts at FSDH Merchant Bank projected that the inflation rate will rise further to 11.34 percent in October, analysts at Financial Derivatives Company Limited project 11.35 percent inflation rate for October. These projections were however nullified by the October inflation rate of 11.26 percent reported by NBS yesterday. NBS October Inflation report The NBS stated: “The Consumer Price Index, (CPI) which ...