August Inflation Rate Reduces to 16.01% on Slower Food Inflation, Decline in Fuel Prices

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September 15, 2017/

August inflation report by the National Bureau of Statistics showed Nigeria’s consumer prices decreased year-on-year by 16.01% (easing from a 16.05% increase in July).

The sustained decline in headline inflation was partly due to a lower y-o-y food inflation rate of 20.25% in August (from 20.28% in July) which reduced the impact of a y-o-y rise in core inflation to 12.3% in August (from 12.2% in July)…click here for details