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Nigeria’s Inflation Rate Drops Further To 17.75% In June 2021

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Nigeria’s inflation rate dropped further in the month of June 2021 to 17.75% from 17.93% recorded in the previous month (May 2021). This represents the third consecutive decline in headline inflation.

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This is according to the latest consumer price index report, released by the National Bureau of Statistics (NBS).

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According to the report, the food inflation stood at 21.83% in June 2021 compared to 22.28% in May 2021 while core inflation which excludes the prices of volatile agricultural produce dropped from 13.15% recorded in May 2021 to 13.09% in the review period.

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