The National Bureau of Statistics has revealed that Nigeria’s inflation rate declined for the seventh consecutive month to 15.99 per cent in October.

The Statistician-General of the Federation, Simon Harry, disclosed this on Monday in Abuja while presenting the details of the Consumer Price Index report for October.

According to him, the inflation rate fell by 0.37 per cent from 16.36 per cent in September.

He said that on a month-on-month basis, the Headline index increased by 0.98 percent in October 2021, adding that this is 0.17 per cent rate lower than the 1.15 per cent recorded in September 2021.

He also disclosed that farm produce such as bread, cereals, cocoa, meat, coffee, tea, and cocoa drove food inflation, which fell to 18.34 per cent in October from 19.57 percent in September.

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