Inflation in Nigeria Drops To 8.6 Percent, Lowest In 5 Years.

Inflation rate in the country dropped to 8.6 per cent in March , the lowest in almost five years as the impact of higher fuel prices a year ago fell out of the calculation. According to the National Bureau of Statistics (NBS), inflation eased to 8.6 percent from 9.5 percent in February. Prices rose 0.7 percent in the month.   The Central Bank of Nigeria (CBN) has kept its benchmark policy rate at a record 12 percent for nine consecutive meetings to keep prices incheck and bolster the naira. The inflation rate has been below 10 percent, matching the central bank’s target, for three consecutive months.