Federal finance and statistics / National Bureau of Statistics

CPI and Inflation Report July 2024

Executive Summary In July 2024, the headline inflation rate eased to 33.40% relative to the June 2024 headline in flation rate of 34.19%. Looking at the movement, the July 2024 headline inflation rate showed a decrease of 0.8% points when compared to the June 2024 headline inflation rate. 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 (i.e., July 2023). Furthermore, on…