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Nigeria inflation rates show marginal decline in August
Nigeria’s headline inflation showed a marginal decline in August, falling to 15.39 per cent from 15.43 per cent in July. Food inflation also saw a notable decrease, dropping to 19.57 per cent year-on-year.
Economist Ephraim Audu, President of the Agricultural Agenda Nigeria Initiative, attributed the reduction in food inflation to increased agricultural supplies resulting from the harvest season. He noted that while prices are rising more slowly, the trend represents disinflation rather than deflation.
Despite these figures, the Manufacturers Association of Nigeria (MAN) warned that the manufacturing sector remains under pressure. MAN stated that lower inflation rates do not necessarily reduce production costs, as manufacturers continue to struggle with high energy costs, logistics challenges, and exchange rate volatility.
Entities
Agricultural Agenda Nigeria Initiative · Ephraim Audu · Manufacturers Association of Nigeria · National Bureau of Statistics · Nigeria · Tinubu administration
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] The drop in Nigeria’s food inflation is due to increased agricultural supplies from the harvest season. realnewsmagazine.net
- [● 2 SOURCES] Food inflation in Nigeria fell to 19.57 per cent year-on-year in August. realnewsmagazine.net · www.premiumtimesng.com
- [● 2 SOURCES] Headline inflation decreased from 15.43 per cent in July to 15.39 per cent in August. www.premiumtimesng.com · tribuneonlineng.com
- [○ 1 SOURCE] The recent decline in food prices should be viewed as disinflation rather than deflation. realnewsmagazine.net
- [○ 1 SOURCE] The manufacturing sector continues to face high operational costs despite moderate inflation declines. tribuneonlineng.com