Inflation Drops Seventh Consecutive Months To 16.01%

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The NBS report stated that food inflation increased by 20.25 per cent year-on-year in July, down marginally by 0.03 per cent points from the 20.28 per cent recorded in July. On a month-on-month basis, the report said food sub-index increased by 1.14 per cent in July, down by 0.38 percentage points from 1.52 per cent recorded in July. Speaking on the drop in inflation rate, finance analysts attributed the decrease to various factors such as transparency in the foreign exchange market, intervention of the Central Bank of Nigeria in ensuring liquidity in the foreign exchange market. PUNCH News To Receive Free News Updates, Add To Your WhatsApp: 08033857245; For Adverts Enquiries, Call 08083609209, To Publish Your Articles Or News Stories, Email editor@skytrendnews.com. READ ALSO! Between GoDaddy And Namecheap: Making The Best Choice For Domain Name Registrar READ ALSO! Google Developing New Tools To Enhance Article Search For News Publishers On Subscription READ ALSO! The Internet’s Future Lies With Its Next Billion Users — Sundar Pichai, Google CEO READ ALSO! Nigerian Filmmaker, Zuriel Oduwole Makes Forbes List Of 100 Most Influential African Women READ ALSO! Woman Marries Her Son After Getting Pregnant For Him READ ALSO! Smartphone Sales Fall As Samsung, Apple Consolidate Market Share READ ALSO! The Smart CEO: Top 5 Websites To Get Cheap Domain Name Registration ]]>