Nigeria’s headline inflation rate moderated to 32.15% in August 2024, down from 33.40% in July, a decrease of 1.25 percentage points. This marks the second consecutive month of easing inflation, according to the Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS).
Despite this monthly slowdown, the year-on-year inflation rate remains significantly elevated, up 6.35 percentage points from 25.80% in August 2023. On a month-to-month basis, August’s inflation rate was 2.22%, slightly down from July’s 2.28%, indicating a slower pace of price increases.
more details soon……………….
