Business
Nigeria’s inflation rate drops to 33.40% in July, first decline in 19 months
Nigeria’s inflation rate fell to 33.40% in July, marking the first decline in 19 months, according to the National Bureau of Statistics (NBS).
This is a slight decrease from the 34.19% recorded in June.
The NBS reported a 0.8% drop in the Consumer Price Index (CPI), which tracks changes in the prices of goods and services.
READ ALSO: Food inflation has declined massively – Bayo Onanuga
Year-on-year, the inflation rate was still 9.32 percentage points higher compared to July 2023, when it was 24.08%.
Food inflation also decreased to 39.53% in July, down from 40.87% in June, though it remains significantly higher than the 26.98% rate seen in July 2023.
-
Latest4 days agoFull List: Meet the 2026 Nobel Prize winners across six categories
-
Football4 days agoPremier League Matchweek 7: Five Fixtures That Could Shape the Weekend
-
Latest3 days agoUmahi defends Lagos-Calabar highway route changes amid public outcry
-
Business3 days agoDangote Refinery IPO Extension: Was the 70% subscription report overhyped?
-
Business2 days ago
Dangote Refinery IPO: 70% Subscription claim meets fourfold demand assertion as investors seek clarity
-
Featured3 days agoEl-Rufai, ADC governorship candidate’s court appearance puts Kaduna opposition politics in focus
-
Latest1 day agoUCTH faces morgue crisis as 50 unclaimed corpses await mass burial
-
Latest4 days agoMakinde’s Chief of Staff, Segun Ogunwuyi, resigns