Nigeria’s Inflation Eases to 32.15%

James Emejo in Abuja

The Consumer Price Index (CPI) which measures change in prices of goods and commodities declined to 32.15 per cent in August compared to
33.40 per cent in the preceding month, the National Bureau of Statistics (NBS) said Monday.

The NBS attributed the 1.25 per cent drop in the headline index to moderation in food and commodity prices.

According to the CPI figures for the review period, year-on- year, however, inflation was 6.35 per cent higher compared to 25.80 per cent in August 2023.

Month-on-month, headline inflation dropped to 2.22 per cent compared to 2.28 per cent in July.

Details later…