Post Views: 186 Nigeria’s National Bureau of Statistics (NBS), on Friday, published the Consumer Price Index for July 2019, showing that inflation gro...
Nigeria’s National Bureau of Statistics (NBS), on Friday, published the Consumer Price Index for July 2019, showing that inflation growth decline for the second consecutive month, rising by 11.08%, representing 0.14% drop from 11.22% recorded in June.
On a month-on-month basis, the headline index increased by 1.01 percent in July 2019, down 0.06%from the previous month’s 1.07%; while percentage change in the average composite CPI for the 12 months period ending July 2019 over that of the previous 12 months was 11.29%, compared to 11.29% recorded in June 2019.
The urban inflation rate increased by 11.43% (year-on-year) in July 2019 from 11.61% recorded in June 2019, while the rural inflation rate climbed by 10.64% in July 2019 from 10.87% in June 2019.
Food inflation at 13.39% in July 2019, from 13.56% in June; just as Core inflation at 8.80% in June 2019 slipped from 8.84% in June.