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INFLATION reduces to 12.8% in JULY

from 12.9% in June

Aug 17 (Lagos) - Nigeria's consumer inflation eased slightly to 12.8 % year-on-year in July, from 12.9 % year-on-year in June, statistics showed on Friday, surprising many analysts who had expected inflation to rise. The Central Bank left the benchmark interest rate at record high of 12% to keep inflation in check because Inflation is expected to rise by the end of 2012.

Food inflation, the largest contributor to the headline index, rose slightly to 12.1 percent year-on-year in July, compared with 12.0 percent in June, the National Bureau of Statistics (NBS) said in a report.

reporting for easykobo.com on Friday, Aug 17 2012 from Lagos, Nigeria

Source - NBS

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