Nigeria’s inflation rate don fall by 0.79 percentage points, from 34.19% in June 2024 to 33.40% last month. Na di first time e don drop since December 2022, wen e last fall to 21.34%.

For di latest Consumer Price Index report wey National Bureau of Statistics release today, dem talk say, for year-on-year basis, di rate still dey 9.32 percentage points higher compared to July 2023, wen e dey 24.08%.

For month-on-month basis, di headline inflation rate for July 2024 na 2.28%, slightly lower than di 2.31% wey dem record for June 2024.

Food and non-alcoholic beverages contribute 17.30% to di year-on-year inflation, followed by housing, water, electricity, gas, and other fuel at 5.59%, plus other factors.

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