ABUJA, Aug 16 – Nigeria’s headline inflation unexpectedly fell in July, data showed, reaching its lowest level for more than three years following an aggressive period of monetary tightening by the central bank.
Gains in consumer prices eased to 9.4 percent year-on-year from 10.2 percent in June, the National Bureau of Statistics said on Tuesday.
Food prices, the biggest contributor to the price index in Africa’s most populous nation, gained 7.9 percent compared with 9.2 percent the previous month.
Source: Reuters Africa newsletter
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