Nigeria’s inflation rate slowed to 20.12% in August, down from 21.88% recorded in July, according to fresh data released by the National Bureau of Statistics (NBS) on Monday.
The report showed that on a month-to-month basis, inflation eased to 0.74% in August, marking a moderation compared to previous months.
However, the figures also revealed that food inflation remained high, rising by 1.65% month-on-month.
The development means that the inflation rate in the country has dropped for a fifth straight month.
More to follow…
