Abuja, Sept. 16, 2024 – Nigeria’s inflation rate dropped to 32.15% in August from 33.40% in July 2024.
The National Bureau of Statistics (NBS) reported this in its latest Consumer Price Index (CPI) released on Monday.
The latest report indicated a 1.25% drop in the inflation rate from the July figure.
Food inflation stood at 37.52% in August.
“In August 2024, the headline inflation rate eased to 32.15 percent compared to July’s rate of 33.40 percent.”
“On a month-to-month basis, August 2024 inflation stood at 2.22 percent, slightly lower than July’s 2.28 percent, further indicating a slower price increase.
“Month-on-month headline inflation was 2.22%. Food inflation was 37.52% in August 2024,” the report said. (GBN)
