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Nigeria Inflation Slows In August

Nigeria's consumer price inflation slowed for the third straight month in August, figures from the National Bureau of Statistics showed on Tuesday.

The consumer price index climbed 11.02 percent year-on-year in August, following a 11.08 percent increase in July. In June, inflation was 11.22 percent.

Food inflation eased to 13.17 percent annually in August from 13.39 percent in July. Food prices rose 1.22 percent from the previous month.

On a monthly basis, consumer prices rose 0.99 percent in August, following a 1.01 percent rise in the preceding month.

The core inflation, which excludes the volatile prices of agricultural produce, slowed to 8.68 percent in August from a 8.80 percent in the prior month.

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