Data released on Wednesday by the National Statistics Agency indicates that Nigeria's overall inflation rate fell for the third consecutive month in June, to 22.22% year on year, from 22.97% in May.

Inflation in Nigeria fell for the third consecutive month in June, reaching 22.22% over one year, compared to 22.97% in May, according to data released Wednesday by the National Statistics Agency. In January, the inflation rate fell sharply when the statistical agency updated the base year of its calculations and readjusted the weighting of the inflation basket, falling to 24.48% annually against 34.80% in December. However, the pace of decline has since slowed. Food price inflation stood at 21.97% over one year in June, compared to 21.14% the