Nigeria: Inflation slows in October from the prior month
Latest reading: Consumer prices were up 16.1% in annual terms in October, following an 18.0% rise in the previous month.
Relative to the previous month’s figures, there were milder price pressures for food (+12.3% in annual terms vs +15.9% in September) and clothing and footwear (+15.4% vs +17.1% in September). In contrast, price pressures were higher for housing and energy in October (+19.1% vs +18.0% in September).
Meanwhile, core consumer prices rose 18.1% on a year-on-year basis in October, following a 19.1% rise in the prior month.
Lastly, consumer prices were up 0.93% in October in month-on-month terms, following a 0.72% rise in the prior month.