Nigeria’s headline inflation rate eased further to 18.02 per cent in September.
The National Bureau of Statistics (NBS) announced this in its latest monthly Consumer Price Index (CPI) report released on Wednesday, October 15.
The CPI report shows that headline inflation dropped to 18.02 per cent year-on-year in September from 20.12 per cent in August.
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On a month-on-month basis, inflation also dropped to 0.72 per cent in September from 0.74 per cent in August.
Pinnacle Daily reports that this is the sixth consecutive month of the deceleration of Nigeria’s headline inflation.
The statistics office declared similarly that food inflation, a significant driver of overall inflation, fell to 16.87 per cent in September from 21.87 per cent in August.
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On a month-on-month basis, the food inflation decelerated to -1.57 per cent, down by 3.22 from 1.65.
Core inflation, which excludes volatile agricultural produce and energy prices, declined to 19.53 per cent from 20.33 per cent in August.
The core inflation rate on a month-on-month basis went down to 1.42 per cent from 1.43 per cent in August.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
