Nigeria’s inflation figure has declined for a seventh consecutive month to 16.63 per cent.
This was disclosed by the Statistician-General of the Federation, Simon Harry, while speaking at a press briefing in Abuja on Friday.
According to a report released by the Nigeria Bureau of Statistics, the Consumer Price Index (CPI) – which measures inflation is 0.38 per cent points lower than the rate recorded in August 2021 which was 17.01 per cent.
Reacting, the Statistician-General noted that the declining trend in the inflation rate was an indication that economic conditions in the country were improving.
