Nigeria’s August inflation slightly fell to16.01%

Nigeria’s August inflation slightly fell to16.01%

There seems to be a slow down in the crash of Nigeria’s consumer prices. August inflation from the National Bureau of Statistics, NBS remained unchanged.

The NBS said August inflation Slightly fell to 16.01% compared to 16.05% disclosed in July.

As a sign that the fall in inflation has further slowed down, core inflation for the month rose by 0.1% on a month on month basis.

Also, the urban index was higher than rural index which further means that people in the cities are still paying far more than what they should pay for goods and services.

The release of the inflation data would set a tone for the monthly monetary policy committee, MPC, headed by the Central Bank of Nigeria, CBN,