Nigeria’s inflation rate drops to 17.38% in July

NEWS DIGEST – The Consumer Price Index, which measures inflation dropped further to 17.38 per cent (year-on-year) in July 2021.

This is 0.37 points lower than the rate recorded in June 2021 (17.75 per cent).

The National Bureau of Statistics disclosed in its Consumer Price Index report for June which was released on Tuesday.

Meanwhile, food inflation declined to 21.03 per cent compared to 21.83 per cent recorded in the previous month, while core inflation stood at 13.73 per cent, up by 0.63 per cent compared to 13.09 per cent recorded in the previous month.

Source: Punch Newspaper