Food prices reduced in July -NBS

The Nigeria Bureau of Statistics (NBS) has said average change in the prices of foods and services reduced in July compared to June.

According to NBS, the headline Inflation reduced to 11.08% in July from 11.22% in June.

This is 0.14% points lower than the rate recorded in June. However, year-on-year, the Consumer Price Index (CPI) which measures inflation increased by 11.08% in July 2019.

Also, the Food Inflation also reduced from 13.56% in June to 13.39% in July while the Core Inflation reduced from 8.84% in June to 8.80% in July.

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