Market News
Inflation slows to 32.15% in August - BUSINESSDAY
BY Eniola Olatunji and Joy Jimoh
Nigeria’s inflation slowed for the second month to 32.15 percent a sign that the surging inflation that has gripped the Nigerians economy is finally subsiding.
According to the National Bureau of Statistics (NBS), Consumer’s Price Index declined to 32.15 percent in August 2024, from 33.40 percent in July 2024.
On a month-on-month basis, the headline inflation rate in August 2024 was 2.22 percent, which was 0.06 percent lower than the rate recorded in August 2024 (2.28 percent).
