Nigeria Inflation Rate Rises Further in July


Nigeria annual inflation rate accelerated further to 8.3 percent in July from 8.2 percent in the previous month. It the highest rate in twelve months, driven by higher food prices.

Food prices increased 9.9 percent, the fastest pace since July of 2013, driven by bread and cereals, meats, and fish. In contrast, cost of dairy, sugar, jam, honey, chocolate and confectionery and coffee, tea and cocoa slowed. 

On a monthly basis, consumer prices eased for the second straight month in July. The inflation rate was recorded at 0.65 percent, down from 0.77 percent in June.

Nigeria Inflation Rate Rises Further in July


National Bureau of Statistics | Joana Taborda | joana.taborda@tradingeconomics.com
8/18/2014 1:46:13 PM