The Buhari Magic: Nigeria’s Inflation Rate Drops

By Ikenga Chronicles August 28, 2017

The Buhari Magic: Nigeria’s Inflation Rate Drops

The National Bureau of Statistics has just released the Consumer Price Index with the inflation rate dropping marginally from 16.1 per cent in June to 16.05 per cent in the month of July.

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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