Market News

Breaking: Inflation Drops to 17.01% - THISDAY

SEPTEMBER 15, 2021

By James Emejo

The Consumer Price Index (CPI), which measures inflation increased by 17.01 per cent (year-on-year) in August compared to 17 38 per cent in July, the National Bureau of Statistics (NBS) said Wednesday. Food inflation slowed to 20.30 per cent in the review period compared to 21.03 per cent in July. The NBS noted that food prices increased at a slower rate in August following moderation in prices of bread and cereals, milk, cheese and egg, oils and fats, potatoes, yam and other tuber, food products, meat and coffee, tea and cocoa. On the other hand, the core inflation, which excludes the prices of volatile agricultural produce also slowed to13.41 per cent in August 2021, down by 0.31 per cent when compared with 13.72 per cent in July.

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