BUSINESS
JUST IN: Inflation Rate Shows Slight Decrease In August 2024, Still Higher Than Last Year
By Onota Oghenevwede
Nigeria’s inflation rate has shown a decline, according to the National Bureau of Statistics (NBS).
The headline inflation rate dropped to 32.15% in August 2024, down from 33.40% in July 2024.
This represents a 1.25% decrease, indicating a slowdown in price increases.
However, compared to August 2023, the inflation rate is still 6.35% higher, showing an annual increase.
On a month-on-month basis, the inflation rate eased to 2.22% in August 2024, down from 2.28% in July 2024.
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