Home » News »  NBS SAYS NIGERIAN ECONOMY COMING OUT OF RECESSION AS INFLATION RATE FALLS FOR EIGHTH CONSECUTIVE MONTH

 NBS SAYS NIGERIAN ECONOMY COMING OUT OF RECESSION AS INFLATION RATE FALLS FOR EIGHTH CONSECUTIVE MONTH

The National Bureau of Statistics on Monday said the Nigerian economy is gradually coming out of recession, with the annual inflation falling in June for the fifth straight month.

The bureau said inflation, measured by the Consumer Price Index, fell to 16.1percent, lower than 16.25 percent rate recorded in May.

The statistics agency said the latest index represents the fifth consecutive decline in the rate of inflation since January 2017.

The index reflects the average change overtime in prices of goods and services consumed by people for day-to-day living.

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