Nigeria’s inflation rate continues to decline according to the CBN inflation data. The headline inflation rate as of October 2021 stands at 15.99%, maintaining a steady decline from March 2021 when it was 18.17%. The food inflation rate and core inflation rate stand at 18.34% and 13.24% respectively of October 2021.
However, the decrease in the headline, food, and core inflation over time is not reflective of people’s realities as a Dataphyte report has explained.
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