Nigeria’s inflation rate drops from 17.24% to 16.25% in one month

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Nigeria’s inflation rate drops from 17.24% to 16.25% in one month

Nigeria’s inflation rate dropped from 17.24 per cent in April to 16.25 per cent year-on-year, according to the National Bureau of Statistics. The report, released on Thursday, stated that on a month-on-month basis, the headline index rose by 1.88 per cent in May representing a 0.28 per cent points higher than the rate of 1.60 per cent recorded in April.

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