(Bloomberg) -- Nigerian inflation slowed in August, as the rate of food-price growth declined.
Consumer prices rose 17% from a year earlier, compared with 17.4% in July, the Abuja-based National Bureau of Statistics said in a report sent by WhatsApp on Wednesday. The data matched the median of nine economists’ estimates in a Bloomberg survey.
Costs climbed 1% in the month, compared with a 0.9% increase in July.
The data comes two days before the central bank meets to decide its latest interest-rate stance. Easing inflation pressures combined with the still-fragile state of the economy are likely to result in the bank keeping its benchmark rate on hold at 11.5%, according to Bloomberg Economics.
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