NBS reports drop in inflation to 15.39% in August

Nigeria’s headline inflation rate fell to 15.39 percent in August from 15.43 percent in July, marking the third consecutive monthly decline since June, according to Vanguard.

The National Bureau of Statistics reports the drop was driven by easing core inflation, which fell to 13.29 percent from 14.97 percent, while food inflation declined to 19.57 percent from 20.31 percent. Vanguard notes month-on-month headline inflation stood at 0.71 percent, down from 1.57 percent in July.

The NBS identified Adamawa, Zamfara and Bayelsa as states with the highest food inflation, while Borno, Jigawa and Kebbi recorded the slowest year-on-year increases, per the report.