Nigeria’s inflation rate rose 16.05% year on year for the month of July 2017. This compares to the 16.10% rise reported in June 2017. It also represents the 6th consecutive decline in the rate of headline year on year inflation since January 2017.

On a month on basis, the Headline index increased by 1.21% in July 2017, 0.37 percent points lower from the rate of 1.58% recorded in June.

Core Inflation

Core inflation which excludes the prices of volatile food produce eased by 0.30 percent in July to 12.20% points from 12.50% recorded in June. Core inflation similar to overall/headline inflation has declined consecutively since January 2017.

On a month-on-month basis, the Core sub-index increased by 1.00 percent in July, 0.32 percent points lower from 1.32 percent recorded in June

What this means


READ MORE: https://nairametrics.com/breaking-july-inflation-rate-is-16-05-what-it-means-for-interest-rates/


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