Consumer prices in Nigeria increased 16.05 percent year-on-year in July of 2017, easing slightly from a 16.1 percent rise in June.
The Inflation rate is still higher compare to market expectations of 16 percent.
According to National Bureau of Statistics this is the lowest rate since May of 2016 .
NBS report indicate that there is a slowdown in cost of housing and energy.
Advertisement
Inflation Rate in Nigeria averaged 12.42 percent from 1996 until 2017, reaching an all time high of 47.56 percent in January of 1996 and a record low of -2.49 percent in January of 2000.
Related posts:
NBS pegs November inflation rate at 18.48 pct
Inflation rate for June to drop to 15.64 pct : FSDH Bank
U.K’s inflation rate drops to 2.6 pct
Inflation rate rises to 12.40% in May 2020- NBS
BREAKING: Nigeria’s inflation rate hits 14.89% in November – NBS
May inflation rate is 17.93% – NBS
Nigeria’s inflation rate increases to 20.52% in August-NBS
FSDH forecasts inflation to drop to 14.31 pct in February
