Breaking: Nigeria’s July Inflation Slips To 11.08%

Breaking: Nigeria’s July Inflation Slips To 11.08%

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Post Views: 125 Nigeria’s National Bureau of Statistics (NBS), on Friday, published the Consumer Price Index for July 2019, showing that inflation gro...

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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.

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