{"id":128492,"date":"2024-08-20T23:34:07","date_gmt":"2024-08-20T22:34:07","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/nigerias-inflation-decline-in-july-shows-monetary-measures-yielding-results-cbn"},"modified":"2024-08-21T00:39:29","modified_gmt":"2024-08-20T23:39:29","slug":"nigerias-inflation-decline-in-july-shows-monetary-measures-yielding-results-cbn","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-inflation-decline-in-july-shows-monetary-measures-yielding-results-cbn","title":{"rendered":"Nigeria\u2019s inflation decline in July shows monetary measures yielding results \u2013 CBN"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The Central Bank of Nigeria has said the decline in headline inflation in July 2024 is an indication that its monetary policy tightening measures are yielding results.<\/p>\n

The apex bank spokesperson, Sidi Hakama disclosed this in a statement on Tuesday.<\/p>\n

Recall that the National Bureau of Statistics\u2019 latest inflation data released last week Thursday showed that Nigeria\u2019s inflation decreased to 33.40 percent in July from 34.19 recorded in the previous Month.<\/p>\n

Reacting to the report, CBN stressed that its interest rate tightening measure which stood at 26.75 percent in July is tackling inflation.<\/p>\n

\u201cRecent data from the National Bureau of Statistics (NBS) revealed that Nigeria\u2019s year-on-year headline inflation rate slowed in July 2024, for the first time in 19 months \u2013 a clear indication that the CBN\u2019s monetary policy tightening measures are delivering results\u201d.<\/p>\n

The CBN added that its policies will contribute to achieving its broader objective of maintaining stability in the foreign exchange market.<\/p>\n

\u201cThe Bank will continue to monitor market conditions and adjust policies as necessary to enable greater remittance flows into Nigeria\u201d, the apex bank stated.<\/p>\n

For More News And Analysis About Nigeria Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The Central Bank of Nigeria has said the decline in headline inflation in July 2024 is an indication that its monetary policy tightening measures are yielding results. The apex bank spokesperson, Sidi Hakama disclosed this in a statement on Tuesday. Recall that the National Bureau of Statistics\u2019 latest inflation data released last […]<\/p>\n","protected":false},"author":84,"featured_media":128491,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[503,254,13009],"class_list":["post-128492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-cbn","tag-nigeria","tag-nigerias-inflation-2"],"yoast_head":"\nNigeria\u2019s inflation decline in July shows monetary measures yielding results \u2013 CBN - Nigeria<\/title>\n<meta name=\"description\" content=\"The Central Bank of Nigeria has said the decline in headline inflation in July 2024 is an indication that its monetary p ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-inflation-decline-in-july-shows-monetary-measures-yielding-results-cbn\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria\u2019s inflation decline in July shows monetary measures yielding results \u2013 CBN\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria has said the decline in headline inflation in July 2024 is an indication that its monetary p ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-inflation-decline-in-july-shows-monetary-measures-yielding-results-cbn\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-20T22:34:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-20T23:39:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/08\/sm_1724184527.349025.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-inflation-decline-in-july-shows-monetary-measures-yielding-results-cbn#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-inflation-decline-in-july-shows-monetary-measures-yielding-results-cbn\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Nigeria\u2019s inflation decline in July shows monetary measures yielding results \u2013 CBN\",\"datePublished\":\"2024-08-20T22:34:07+00:00\",\"dateModified\":\"2024-08-20T23:39:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-inflation-decline-in-july-shows-monetary-measures-yielding-results-cbn\"},\"wordCount\":199,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-inflation-decline-in-july-shows-monetary-measures-yielding-results-cbn#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/08\/sm_1724184527.349025.jpg\",\"keywords\":[\"CBN\",\"Nigeria\",\"Nigeria\u2019s inflation\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-inflation-decline-in-july-shows-monetary-measures-yielding-results-cbn#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-inflation-decline-in-july-shows-monetary-measures-yielding-results-cbn\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-inflation-decline-in-july-shows-monetary-measures-yielding-results-cbn\",\"name\":\"Nigeria\u2019s inflation decline in July shows monetary measures yielding results \u2013 CBN - 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