Nigeria's Inflation Rate Drops to 18.02% Amid Food and Energy Price Moderation
Nigeria's inflation rate has further declined to 18.02%, with a year-on-year headline inflation of 14.68%. The moderation in food and energy prices, along with foreign exchange stability, contributed to this decrease.
The Centre for Promoting Private Enterprise (CPPE) welcomed the continued moderation in inflation as a positive indicator of improved macroeconomic conditions. However, the cost of living crisis persists, especially for low and middle-income households.
The annual food inflation dropped to 16.87%, while core inflation stood at 19.53% year-on-year in September. Urban inflation also decreased significantly.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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