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Market Update: Nigeria Inflation Rate Drops for 2nd Month
Nigeria’s annual inflation rate eased for the second straight month to 17.93% in May of 2021 from 18.12% in the previous month, amid a slight slowdown in prices of food & non-alcoholic beverages & tobacco (22.28% vs 22.72% in April). Still, the annual core inflation, which excludes the prices of volatile agricultural produce hit 13.15% in May 2021, the most since April of 2017. On a monthly basis, consumer prices inched up 1.01%, following a 0.97% increase in the prior month. source: National Bureau of Statistics, Nigeria [/s2If]
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