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Title : Inflation Rate Drops for Sixth Consecutive Time to 16.05%
link : Inflation Rate Drops for Sixth Consecutive Time to 16.05%
Inflation Rate Drops for Sixth Consecutive Time to 16.05%
The inflation rate in Nigeria has began to drop considerably as efforts are made by the government to ameliorate the issue. |
| File Photo |
The bureau in the report said this is the sixth consecutive time that the index would be dropping since January this year.
It reads in part, "The inflation report for July 2017 reveals that headline inflation has again reduced to 16.05 per cent (year-on-year) in July 2017, compared to 16.10 percent in June 2016.
“This makes it the sixth consecutive decline in the rate of headline year on year inflation since January 2017.
“On a month-on-month basis, the Headline index increased by 1.21 per cent in July 2017, 0.37 per cent points lower from the rate of 1.58 per cent recorded in June.”
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