Connect with us

    Hi, what are you looking for?

    News

    Nigeria’s inflation drops first time in 19 months

    National Bureau of Statistics (NBS) says Nigeria’s inflation rate declined to 33.4 percent in July, below the 34.2 percent reported in June.

    This is the first decline in 19 months, since December 2022 when it last dropped to 21.34%.

    The latest inflation rate figures are based on the National Bureau of Statistics (NBS) CPI report for July 2024.

    According to the report, the headline inflation rate decreased by 0.79 percentage points in July 2024 compared to June 2024.

    On a year-on-year basis, the rate was 9.32 percentage points higher than in July 2023, when it stood at 24.08%. This indicates an increase in the headline inflation rate on a year-on-year basis for July 2024 compared to the same month in the previous year.

    Additionally, on a month-on-month basis, the headline inflation rate in July 2024 was 2.28%, slightly lower than the 2.31% recorded in June 2024.

    Spread the love
    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    ad

    You May Also Like

    E-Financial

    Polaris Bank, Nigeria’s leading digital retail, and commercial bank, on Tuesday hosted corporate customers in the non-oil sector at its Global Trade Forum. The...

    News

    Bill Gates, Chair of the Bill & Melinda Gates Foundation, has called on global leaders to make bold choices that could save millions of...

    News

    President Bola Tinubu has declared Nigeria’s ambition to host the 2030 Commonwealth Games a “dream” that must be realised, urging the international sporting body...

    News

    South Korea has opened a criminal trial for Kim Keon Hee, the wife of impeached former president Yoon Suk Yeol, marking the first time...