Inflation Drops Marginally to 15.91% Amid Energy, Food Price Pressures

• Severe in Niger, Kogi, Abuja, others

James Emejo and Deborah Adekoya in Abuja

The Consumer Price Index (CPI), which measures the rate of change in prices of goods and services, moderated marginally to 15.91 per cent in June from 15.93 per cent recorded in May, the National Bureau of Statistics (NBS) said yesterday.

The slight moderation marked the first decline in headline inflation after three consecutive monthly increases, suggesting that while overall inflationary pressures remained largely elevated, though the pace of price increases eased marginally during the review period.

According to the CPI report for the period under review, month-on-month, headline inflation also slowed to 1.66 per cent in June from 1.75 per cent in May, indicating that the average price level continued to rise but at a slower pace than in the preceding month.