Following expert speculations, recent data from the Bureau of Statistics reveals that Nigeria’s headline inflation rate decreased to 33.40% in July 2024, down from 34.19% in June 2024. This marks the first reduction in the headline inflation rate since December 2022, when it fell to 21.34%. The report indicates a decline of approximately 0.79% in the inflation rate from June to July 2024, highlighting a significant shift in the country’s inflationary trend.
