Nigeria's Inflation Rate Eases for Sixth Consecutive Month to 18 Percent in September

Nigeria's inflation rate eased for the sixth consecutive month to 18% in September, down from 20.1% a month earlier, boosting optimism among policymakers.

Nigeria's inflation rate has eased for the sixth consecutive month to 18 percent in September, down from 20.1 percent a month earlier, boosting optimism among policymakers that their path of reducing prices will continue. The decline is attributed to lower food price inflation and reduced fuel subsidies. This marks the longest period of declining inflation since 2017, when it reached its highest level at 23.8 percent. Economists expect further reductions in inflation rates as the economy grows.