Nigeria’s annual inflation rate eased again in August after a persistent rise in nearly two years.
Inflation rate eased further to 32.15 per cent in August 2024 relative to the July 2024 headline inflation rate of 33.40 per cent, the National Bureau of Statistics (NBS) announced Monday.
“In August 2024, the headline inflation rate further eased to 32.15% relative to the July 2024 headline inflation rate of 33.40%,” NBS posted on X.
“Month-on-Month headline inflation was 2.22%
Food inflation was 37.52% in August 2024.”
Inflation indicators compare prices of goods and services in 12 months.
According to the NBS food inflation was 37.52 per cent in August 2024 as against 39. 53 per cent recorded in July.
