July 17, 2017 / 8:55 AM / 10 days ago

UPDATE 1-Nigerian annual inflation slows in June, but still above 16 percent

1 Min Read

(Adds detail)

LAGOS, July 17 (Reuters) - Annual inflation in Nigeria eased for a fifth straight month in June, slowing to 16.1 percent, the National Bureau of Statistics (NBS) said on Monday.

A separate food price index showed inflation at 19.91 percent, up from 19.27 percent in May, indicating continued pressure on food prices, the NBS said in a report.

Annual inflation slowed in May to 16.25 percent. It recorded its first recent slowing in February.

Nigeria is in its second year of recession and is contending with a currency crisis and dollar shortages brought on by low oil prices, which is the OPEC member's mainstay. (Reporting by Chijioke Ohuocha; Editing by Jeremy Gaunt)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below