Nigeria’s headline inflation rate eased slightly to 15.91% in June, down from 15.93% in May, marking the first monthly decline after three consecutive increases, according to the National Bureau of Statistics.
Food inflation, however, accelerated month-on-month to 3.75% from 2.98% in May, driven by rising prices of pepper, tomatoes, crayfish, beef and garri. Niger, Kogi and the FCT recorded the highest overall inflation rates; Imo, Ebonyi and Katsina the lowest.
The decline comes despite fears that rising global oil prices from the US-Iran conflict could reverse gains through higher fuel, transport and food costs.
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