September 18, 2024/United Capital
Extracts from August-2024 Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) revealed that the Nigeria’s headline inflation printed at 32.15% on a year-on-year (y/y) basis, indicating a 125bps decline from 33.40% y/y recorded in July 2024.
Looking from a month-on-month viewpoint, similar downward trend was observed, as data extracts revealed a corresponding slowdown in the rising pace of inflation rate. For context, headline inflation rate climbed by 2.22% m/m in August 2024, 6bps slower than the 2.28% m/m recorded in July-2024.
Please Click Here for the NBS report.
