The National Bureau of Statistics (NBS) has released latest data showing that the rate of inflation has dropped for the sixth consecutive month.
According to the NBS, inflation rate dropped to 16.05% from 16.1% in June.
It reads in part, ” The inflation report for July 2017 reveals that headline inflation has again reduced to 16.05 per cent (year-on-year) in July 2017, compared to 16.10 percent in June 2016.
“This makes it the sixth consecutive decline in the rate of headline year on year inflation since January 2017.
“On a month-on-month basis, the Headline index increased by 1.21 per cent in July 2017, 0.37 per cent points lower from the rate of 1.58 per cent recorded in June.”
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