ABUJA, July 18 – Nigeria’s headline inflation fell to 10.2 percent year-on-year in June from 12.4 percent in May, the National Bureau of Statistics said on Monday, as Central Bank monetary tightening helped to curb a rise in prices. Growth in food prices fell to 9.2 percent in June from 12.2 percent in May. Nigeria’s Monetary Policy Committee meets next week, after raising interest rates at its last three consecutive meetings.
The MPC raised its benchmark rate to 8 percent in May.
Source: Reuters Africa newsletter
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