The National Bureau of Statistics has reported a drop in Nigeria’s inflation rate to 32.15 percent for August 2024.
This marks a 1.25 percentage point decrease from July’s 33.4 per cent, representing the second consecutive monthly slowdown in inflation.
The headline inflation report, published on the NBS website showed that on a month-to-month basis, August’s inflation stood at 2.22 percent, slightly lower than July’s 2.28 percent.
Food inflation in August was reported at 37.52 percent, also indicating a general easing of price increases across various sectors.
