Nigeria’s headline inflation rate declined to 33.40 per cent in July, says the National Bureau of Statistics (NBS).
Nigeria’s headline inflation rate declined to 33.40 per cent in July, says the National Bureau of Statistics . This is contained in the NBS Consumer Price Index and Inflation Report for July, which was released on Thursday in Abuja. The figure is 0.8 per cent points lower than 34.19 per cent recorded in June.…Nigeria’s headline inflation rate declined to 33.40 per cent in July, says the National Bureau of Statistics .
The increase in the headline index for July 2024 on a year-on-year basis and month-on-month basis was attributed to the rise in prices of some goods and services at the divisional level. “The rise in food inflation on a year-on-year basis is caused by increases in prices of semovita, yam flour, wheat flour, yam, Irish potatoes, water yam, etc.On a month-on-month basis, the food inflation rate in July was 2.47 per cent, which was a 0.08 per cent decrease compared to the rate recorded in June 2024 at 2.55 per cent.
The highest increases were recorded in prices of rents, bus journey intercity, journeys by motorcycle, etc. “On a month-on-month basis, the urban inflation rate was 2.46 per cent, which decreased by 0.003 per cent compared to June 2024 at 2.46 per cent.’’ However, the slowest rise in headline inflation on a year-on-year basis was recorded in Benue at 27.28 per cent, followed by Delta at 28.06 per cent, and Borno at 28.33 per cent.In July 2024, all items inflation rate on a month-on-month basis was highest in Abuja at 3.91 per cent, followed by Borno at 3.84 per cent, and Enugu at 3.76 per cent.
The report, however, said on a month-on-month basis, food inflation was highest in Borno at 5.07 per cent, followed by Sokoto at 4.99 per cent, and Enugu at 4.17 per cent. Deposit Money Bank, Guaranty Trust Bank has provided clarity as regards alleged breach of its domain. Recall that since yesterday, customers of the bank have had difficulties in carrying out financial transactions via the bank channels. Report has it that hackers hacked into the domain of the bank and that has caused serious breach,…
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
40 killed in fresh bandits attack on Benue communityAt least 40 people were reportedly killed when militias raided Ayati community in Ukum Local Government Area of Benue State on Thursday. A youth leader in the area, who wished to remain anonymous for security reasons, confirmed the incident to DAILY POST. He said, “More than 40 people were killed and many were injured.
Read more »
Mens’ Fashion Week: Nigeria to play host to 40 international designersNigeria is set to play host to over 40 designers across the continent and beyond as the the Mens Fashion Week debuts in Abuja.
Read more »
VP Shettima celebrates ‘true Nigerian visionary’, Dr Stanley Uzochukwu at 40Vice President of the Federal Republic of Nigeria, Senator Kashim Shettima, GCON, has congratulated one of the nation's successful young entrepreneur, Dr Stanley Uzochukwu on the occasion of his 40th birthday.
Read more »
President Yayi of Benin Republic congratulates Dr Stanley Uzochukwu at 40President Thomas Boni Yayi of Benin Republic has joined other African Presidents to felicitate with the Chairman/CEO of Stanel Group and The Delborough Hotel Lagos, Dr Stanley Uzochukwu, CON on his 40th birthday today, Tuesday, 30th July 2024.
Read more »
President Obasanjo congratulates Delborough Lagos boss, Dr Stanley Uzochukwu at 40Nigerian former President, Chief Olusegun Obasanjo has congratulated one of African serial investors, Stanel Group and The Delborough Lagos boss, Dr Stanley Uzochukwu on his 40th birthday. Obasanjo's congratulatory message was contained in a goodwill message he personally signed on Monday to the businessman who turns 40 today, 30th July.
Read more »
Ghana president, Mahama felicitates with Dr Stanley Uzochukwu at 40Former Ghanaian President, John Dramani Mahama has sent a message of felicitation to Nigerian young businesses leader, Dr Stanley Uzochukwu on his 40th birthday. President Mahama acknowledged and highlighted the successes of Dr Stanley in his 30s and wished he could replicate his investments in Ghana.
Read more »