Now Reading: Selling Price Inflation Falls to Seven-Month Low – Report
-
01
Selling Price Inflation Falls to Seven-Month Low – Report
A new economic report has shown that Nigeria’s selling price inflation has dropped to its lowest level in seven months, offering a glimmer of hope for businesses and consumers.
The decline, attributed to improved supply chain efficiency and slight currency stabilization, suggests that the country may be gradually overcoming some inflationary pressures that have plagued it in recent years.
The report, compiled by financial analysts, noted that while inflation remains high, particularly in food and energy prices, the slowdown in the rate of increase provides relief for businesses that have struggled with rising operational costs. Some manufacturers have even begun adjusting prices downward to reflect the changing economic conditions.
However, despite this progress, many economists caution that inflation remains a major concern, particularly with ongoing fluctuations in foreign exchange rates and the continued impact of subsidy removal. They urge the government to implement policies that ensure price stability, enhance productivity, and support local industries to prevent a rebound in inflationary pressures.
