Nigeria’s Inflation Rate Sees First Decline in Over 18 Months, Drops to 33.40% in July 2024

Nigeria’s headline inflation rate decreased to 33.40% in July 2024, down from 34.19% in June 2024.

This marks the first decline in the headline inflation rate since December 2022, when it last dropped to 21.34%.

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The latest inflation rate figures are based on the National Bureau of Statistics (NBS) CPI report for July 2024.

Details later….