Nigeria’s Inflation Figure Has Recorded Its First Decline In 19 Months.

Nigeria’s inflation figure has recorded its first decline in 19 months.

According to a report by the National Bureau of Statistics (NBS), inflation dropped to 33.40 percent in the month of July when compared to the 34.19% recorded in June.

On a year-on-year basis, the headline inflation rate was 9.32% points higher compared to the rate recorded in July 2023, which was 24.08%. This shows that the headline inflation rate (year-on-year basis) increased in July 2024 compared to the same month in the preceding year.

It added that on a month-on-month basis, the headline inflation rate in July 2024 was 2.28%,which was 0.03% lower than the rate recorded in June 2024 (2.31%).

“This means that in July 2024, the rate of increase in the average price level was lower than the rate of increase in the average price level in June 2024.

It went on to state that Food inflation rate in also reduced to 39.53% when compared to the 40% in June 2024.

But on a year-on-year basis, there was a 12.55% points increase compared to the rate recorded in July 2023 (26.98%).

“The rise in Food inflation on a year-on-year basis was caused by increases in prices of the following items Semovita, Yam Flour (Prepacked), Wheat Flour (Prepacked), etc (Bread and Cereals Class), Yam, Irish Potatoes, Water Yam, etc (Potatoes, Yam & Other Tubers Class), Groundnut Oil, Palm Oil, (Oil & Fats Class) and Milo, Bournvita, Ovaltine (Coffee, Tea & Cocoa Class), etc.

“On a month-on-month basis, the Food inflation rate in July 2024 was 2.47% which shows a 0.08% decrease compared to the rate recorded in June 2024 (2.55%). The fall can be attributed to the decline in the rate of increase in the average prices of Tin Milk, Baby Powdered milk, etc (Under Milk, Cheese & egg Class), Mudfish fish, Fresh fish (Obokun), snail, etc (Under Fish Class), Date Palm fruit (Debenu), Watermelon, etc Garri, Akpu (fufu), etc (Under Bread and Cereals Class), Exercise books, Textbooks, etc (Under Books & Stationaries Class) and Turkey meat, Minced Pork, etc (Under Meat Class).”


Daily Trust

 

 

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Red Part 1

Fatima
“Ah this long queue, abeg” I said as I approached the ATM beside our house.
I stood for a few minutes, “when will it come to my turn, gaskiya Banda lokaci let me be going” I said to my self as I took my leave
. “Hello come and go before me” called out a young man. I turned
“Ah thank you” I quickly ran in front of him as the people in the queue grumbled.
Thank you I said with a big smile.
You are welcome he said.
To be frank with you I didn’t give him a second look, I withdrew my money, thanked him and I was on my way.
He quickly followed me.
“I didn’t catch your name miss”
“I didn’t throw it” I said.
Haba now this is not how you respond to your knight in shining armour
Knight ke” i let out a loud laugh
“Ok what’s your name at least, do you mind if I drop you?” He asked.
“My house is down the road so don’t worry and yes my name is Fatima”
“Oh you see this is meant to be, you have my mom”s name, can I call you mama na?”
“Well you can call me Ummi, that’s what my family call me ” I said.
“Can I see your phone” he asked
“why” I asked as I looked at my shattered screen. I quickly hid it with my veil.
I want to dial my number, so you can have my number, you need me in your life” He said with a smirk
“Is that what you say to every girl” I asked
“No just the ones I like” he said
‘Let me go”
I wouldn’t let you go until you give me your number or instagram handle or snap” he said smiling
For the first time we locked eyes, I felt some electric surge down my body, he is a fine man I ain’t got lie.
“08134435581, can I go now?”
“Wait now, haba mana ummi na”
“Ummin ka? You are such a charmer just now now I am your ummi?” I asked with a smile.
“Yo da ta wacece”
Tun da kinki na rage miki hanya shi ke nan. He opened his car and started the ignition.
Suddenly my phone rang.
“Aren’t you going to pick that? Mijin ki na kira baza ki dauka ba” he said with a broad smile and drove off
Omo wetting be this, this guy wan carry me go where I no know!!!

Ahmed.
Hello, ya how far kana ina? I asked as I placed a call to jibrilla
Jibrilla is my best fried and my partner in crime.
“Guy I just met the girl of my dreams”
“Please free me, I don’t have energy for your dreams or your girls” he said
“Walahi this girl is what I want, exactly fa komai da komai “ I said.
“ Yanzu dai where are you, are you in the office”
“No walahi Baba sent me to Senator Rufai’s office to drop some documents, on my way as we speak, lets just meet later at the spot” he said
“Ba matsala, see you later” I said
Just then I realised I forgot to withdraw the money that made me stop at the ATM in the first place. Shit!!!!

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