Inflation rate drops to 11.14% in July –NBS

Ifeanyi Onuba, Abuja

The National Bureau of Statistics on Wednesday released the Consumer Price Index which measures inflation with the index dropping by 0.09 per cent points from 11.23 per cent in June to 11.14 per cent in July.

The bureau in the report said this is the 18th consecutive decline in headline index.

The report reads in part, “The consumer price index, which measures inflation, increased by 11.14 per cent (year-on-year) in July 2018.

“This is 0.09 per cent points less than the rate recorded in June 2018 and represents an 18th consecutive disinflation in headline inflation year on year.”