Nigeria’s inflation slows in third consecutive month to 22.22%
- Nigeria's headline inflation decelerated to 22.22% in June, down from 22.97% in May.
- Food inflation increased slightly to 21.97% in June compared to the previous month.
- The inflation drop is attributed to favorable base effects rather than a broad-based easing of economic hardship.
While the decline in headline inflation may seem positive, it is essential to recognize the underlying economic pressures that persist. Policymakers should remain cautious and avoid premature decisions that could undermine investor confidence. A thorough analysis of economic indicators is necessary before any shifts in monetary policy.
