...Slows for 7th consecutive month to 16.1% as food inflation drops
Nigeria’s inflation rate fell for the seventh consecutive month to 16.1 percent, coming in well below economists’ projections and strengthening expectations of a significant cut in the benchmark interest rate.
Annual inflation decelerated to 16.1 percent in October from 18.02 percent in the previous month, as reported by the National Bureau of Statistics (NBS) on Monday. The scale of the decline exceeded forecasts from a BusinessDay survey of eig
