Nigeria’s Inflation Rate Drops To 17.38% In July

The National Bureau of Statistics (NBS) has disclosed that inflation dropped further to 17.38 per cent (year-on-year) in July 2021.

Naija News reports that this was made known by the NBS in its Consumer Price Index report for June which was released on Tuesday

According to NBC, the latest drop is 0.37 points lower than the rate recorded in June 2021 (17.75 per cent).

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.