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Nigeria’s Inflation Drops To 17.38%

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A report by the National Bureau of Statistics shows that Nigeria’s inflation rate has dropped to 17.38 percent in July from 17.75 in June 2021.

The latest inflation rate was contained in the ‘Consumer Price Index (CPI) Report for July’ released by the NBS on Tuesday.

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Nigeria’s inflation rate showed that prices continued to rise in July 2021 at a slightly slower pace than the 17.75 percent recorded in June. The fall between both months was 0.37 percent or 37 basis points.

“This implies that prices continued to rise in July 2021 but at a slower rate than it did in June 2021,” NBS said.

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