The National Bureau of Statistics has said Nigeria\u2019s headline inflation rate for July fell to twenty-one-point eight percent as compared to June, which stood at twenty-two-point twenty-two percent.<\/p>\n
The Consumer Price Index (CPI) report indicates that the nation has experienced four consecutive drops in inflation for the year.<\/p>\n
It also revealed that July\u2019s inflation rate eased to three-point one two percent, as compared to the previous month.<\/p>\n
Core inflation, which excludes the prices of volatile agricultural products and energy, stood at twenty-one-point three three percent in July 2023 on a year-on-year basis; a decline of six-point one three percent when compared to the twenty-seven-point four seven percent recorded in July 2022.<\/p>\n
The food and non-alcoholic beverages, restaurants and accommodation services, and transport were the top contributors to the CPI in the month under review.<\/p>\n
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