Nigeria’s inflation rate dropped from 33.40% in July to 32.15% in August.

This is the second month of consecutive inflation decline this year.

In its Consumer Price Index report released yesterday, the National Bureau of Statistics said the headline inflation rate eased to 32.15% in August 2024, while food inflation stood at 37.52% in the same month.

On a month-on-month basis, the headline inflation rate in August 2024 was 2.22%, which was 0.06% lower than the rate recorded in July 2024 of 2.28%.

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