After the United States of America’s Consumer Price Index rose by 0.3 percent to 2.7 percent in June from 2.4 per cent, the Federal Government, through the National Bureau of Statistics(NBS), is expected to release the country’s inflation data today, Wednesday, 16 July, 2025, reports Business Today NG.
NBS is likely to release June Consumer Price Index and Inflation data on Wednesday upon resumption of work after Tuesday’s public holiday to honour late Nigerian ex-President Muhammadu Buhari, who was buried at his hometown, Daura, Katsina State.
This development comes amid President Donald Trump’s tariff war.
According to BBC, Head of US Economic Research at Fitch Ratings Olu Sonola said, “There is a trickle of what is likely tariff-induced inflation in some categories, particularly household appliances and furnishings.”
In the case of Nigeria, Africa’s most populous country, in May 2025, headline and food inflation dropped to 22.97 percent and 21.14 percent.
Except in March, Nigeria’s inflation had been on a steady decline after rebasing in January 2025.
The Central Bank of Nigeria(CBN) fixed July 21st and 22nd to hold a Monetary Policy Committee meeting to decide on the country’s interest rate, which stood at 27.50 percent in May.
