Nigeria’s headline inflation slowed for the sixth month in a row in September, driven by a moderation in food prices.
Data from the National Bureau of Statistics, NBS on Wednesday showed that consumer price index dropped to 18.02% year-on-year last month, down from 20.12% in August, which is one of its biggest fall of 2.1%.
On a month-on-month, MoM basis, the headline inflation rate stood at 0.72%, reflecting a moderation in price increases across key sectors.
The food inflation rate also showed a notable improvement, recording a -1.57% MoM change – indicating that average food prices declined in September compared to the previous month.
(Editor: Terverr Tyav)
