Economics
Nigeria Inflation Slows to 43-Month Low as Food Costs Grow Less
- Inflation rate falls to 11.02% in August from 11.08% in July
- Annual food inflation slows to 13.2% from 13.4% in prior month
Lagos port complex.
Photographer: Stefan Heunis/AFP via Getty Images
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Nigeria’s inflation rate fell to the lowest in more than three years in August as growth in food prices slowed.
Consumer prices rose 11.02% from a year earlier compared with 11.08% in July, the Abuja-based National Bureau of Statistics said Tuesday in a report published on its Twitter account. That’s the slowest since January 2016. Prices rose 0.99% in the month.