The National Bureau of Statistics (NBS) has announced that Nigeria’s inflation rate decreased to 33.40 per cent in July 2024, 2024.
Nigeria’s inflation rate reduced from 34.19 per cent recorded in June 2024.
The NBS disclosed this via its Consumer Price Index (CPI) report for July 2024 released on Thursday, August 15, 2024.
This marks the first decline in the headline inflation rate since December 2022, when it last dropped to 21.34 per cent.
According to the NBS, the inflation rate decreased by 0.8 per cent in July 2024.
It said the headline inflation rate in July showed 0.3 per cent points lower than the rate recorded in June 2024.
