Nigeria's Inflation Rate Declines to 20.12% in August

Nigeria's inflation rate dropped to 20.12% in August, marking a slowdown from the previous month. The National Bureau of Statistics (NBS) released data showing a moderation in inflation compared to July, although food inflation remained high.

This decrease in the inflation rate for the fifth consecutive month indicates a positive trend in the country's economic indicators. The report highlights the ongoing efforts to manage inflation and stabilize the economy amidst challenges faced by consumers due to rising food prices.