Nigeria’s Inflation Falls To 16.63% In September
The Consumer Price Index, which measures inflation in the country, has, again, declined for the seventh consecutive month to 16.63 per cent in September.
The Statistician-General of the Federation, Simon Harry, while speaking at a press briefing in Abuja on Friday, noted that the CPI decrease was 0.38 per cent lower than the 17.01 per cent recorded in August 2021.
He said that the declining trend in the inflation rate was an indication that the economic conditions in the country were improving.
But most Nigerians are at a loss as they cannot understand why prices of goods, especially food items keep on increasing on daily basis while figures from government agencies, shows inflation to be on the downward trend.
