Nigerian Inflation Dips Below 20% for First Time in 3 Years

Nigeria’s inflation rate dropped below 20% for the first time in three years, supporting the case for another interest-rate cut when policymakers meet next month.

Annual inflation slowed to 18% in September from 20.1% the month before, the National Bureau of Statistics said in a statement on Wednesday. That was lower than the median estimate of 19% of five economists in a Bloomberg survey. Prices rose 0.7% in the month.