Inflation slows to 32.15% in August

The worst still is the hyper increase in food prices, which is making ‘one square meal a day’ difficult, and many who cannot afford it, starving today.

Nigeria’s inflation slowed for the second month to 32.15 percent a sign that the surging inflation that has gripped the Nigerians economy is finally subsiding.

According to the National Bureau of Statistics (NBS), Consumer’s Price Index declined to 32.15 percent in August 2024, from 33.40 percent in July 2024. On a month-on-month basis, the headline inflation rate in August 2024 was 2.22 percent, which was 0.06 percent lower than the rate recorded in August 2024 (2.28 percent).