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Inflation Rate Drops To 11.14% in July - NBS

Posted by Thandiubani on Wed 15th Aug, 2018 - tori.ng

The National Bureau of Statistics has revealed that Nigeria's Inflation Rate dropped to 11.12% in the month of July.

Statistician General for the Federation/Chief Executive, NBS, Dr. Yemi Kale

The National Bureau of Statistics on Wednesday released the Consumer Price Index which measures inflation with the index dropping by 0.09 per cent points from 11.23 per cent in June to 11.14 per cent in July, according to a report by Punch.

The report revealed that the bureau said this is the 18th consecutive decline in headline index.

The report reads in part, “The consumer price index, which measures inflation, increased by 11.14 per cent (year-on-year) in July 2018.

“This is 0.09 per cent points less than the rate recorded in June 2018 and represents an 18th consecutive disinflation in headline inflation year on year.”