Nigeria’s food inflation falls to 19.57% in August, report says
Nigeria’s food inflation eased to 19.57% in August, according to a new report cited by the source. The report attributed the movement to stable prices for fast-moving consumer goods. The available material does not provide the previous inflation rate, the report’s publisher or a breakdown of the products covered.
Nigeria’s food inflation eased to 19.57% in August, according to a new report. The report said prices for fast-moving consumer goods remained stable during the period. The source material presents the moderation in food inflation alongside that stability in FMCG prices.
It does not identify the report’s publisher or provide the food-inflation rate recorded in the preceding period. No breakdown is supplied for individual products, regions or categories of fast-moving consumer goods. The available information therefore establishes two points: food inflation stood at 19.57% in August, and the report linked the easing to stable FMCG prices.
It does not provide further analysis of the causes of the change or indicate whether the report expects the trend to continue.
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.