UPDATED: Nigeria’s inflation rate dropped to 33.30% in July -NBS

Nigeria’s headline inflation rate decreased to 33.40 per cent in July 2024, down from 34.19 per cent in June 2024.

This marks the first decline in the headline inflation rate since December 2022, when it last dropped to 21.34 per cent.

The latest inflation rate figures are based on the National Bureau of Statistics CPI report for July 2024.

The CPI measures the average change over time in the prices of goods and services consumed by people for day-to-day living.