Nigeria’s annual inflation slows in June, but still above 16 percent

LAGOS – Annual inflation in Nigeria eased for a fifth straight month in June, slowing to 16.1 percent, the National Bureau of Statistics (NBS) said on Monday.

A separate food price index showed inflation at 19.91 percent, up from 19.27 percent in May, indicating continued pressure on food prices, the NBS said in a report.

Annual inflation slowed in May to 16.25 percent. It recorded its first recent slowing in February.

Nigeria is in its second year of recession and is contending with a currency crisis and dollar shortages brought on by low oil prices, which is the OPEC member’s mainstay.

The post Nigeria’s annual inflation slows in June, but still above 16 percent appeared first on Vanguard News.

Tags:
https://akphoto4.ask.fm/832/312/267/-139996993-1t4kc00-ei0fmcdct7e26k0/original/avatar.jpg

Lamar

Simplicity….. The true mark of Genius

Leave a Response