ABUJA (Reuters) -Nigeria’s headline inflation slowed for the sixth month in a row in September, driven by a moderation in food prices, official data showed on Wednesday, offering some relief to policymakers battling cost-of-living pressures.
The National Bureau of Statistics said the consumer price index fell to 18.02% year-on-year last month, down from 20.12% in August.
Inflation had peaked near 35% in December before the statistics office revised its base year and adjusted the weighting of items in its price basket earlier this year.
Food inflation, which accounts for the bulk of household spending, eased to 16.87% in September from 21.87% the previous month, reflecting improved supply conditions and seasonal harvests.
The Central Bank of Nigeria last month cut its benchmark interest rate for the first time since 2020, citing projections for continued disinflation. Governor Olayemi Cardoso said the bank was targeting single-digit inflation and would maintain a data-driven approach to monetary policy.
(Reporting by Chijioke Ohuocha and Shamsuddin, Md, Editing by MacDonald Dzirutwe and Gareth Jones)
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