Nigeria's inflation eases to 16.1% in June from 16.3% in July
484 views · Published 17 July 2017 · 0:45 · Indexed 20 September 2026
Channel: CGTN Africa · 2017 · News & Politics
Nigeria's inflation rate fell for a fifth consecutive month in June, even as food-price growth surged. Inflation eased to 16.1 percent from 16.3 percent in May. In the same month, prices rose 1.6 percent. Inflation has been above the upper end of the central bank's target band of 6 percent to 9 percent for two years. Governor Godwin Emefiele has kept the main policy rate at a record high of 14 percent since last July to support the naira. The economy has contracted for five consecutive quarters. The rate will be reviewed again on the 25th of July. Emefiele said last month that tight monetary policy will continue. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica
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