Nigeria’s Inflation Eases for First Time in 20 Months, Offers Relief to Government

• Annual inflation slowed to 33.40% in July, down from June’s 34.20%
• Food inflation, a key driver, dropped to 30.53% as early harvests temper prices

Abuja, Nigeria – Nigeria’s annual inflation rate eased in July for the first time in 20 months, providing much-needed relief to a government grappling with a cost-of-living crisis. The inflation rate slowed to 33.40% from 34.20% in June, according to data released by the National Bureau of Statistics (NBS).