ABUJA, May 15 (Reuters) – Annual inflation in Nigeria stood at 12.48 percent in April, its lowest level in more than two years and its 15th straight monthly drop, the National Bureau of Statistics said on Tuesday.
Food inflation has been in double figures for nearly three years, but has slowed for the past six months.
The central bank’s monetary policy committee is due to meet later this month to set its main interest rate. It held the rate at 14 percent in April in an attempt to curb inflation, especially in food prices.
It has kept rates tight for more than a year to support the naira and attract foreign investors into the debt market. (Reporting by Paul Carsten; Additional reporting by Alexis Akwagyiram and Chijioke Ohuocha in Lagos Editing by Alison Williams/Keith Weir)
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