Nigeria’s inflation rate dips, but Nigerians still feel the pinch

FILE - Pedestrians shop for peppers and other food at the Mile 12 Market in Lagos, Nigeria, on Feb. 16, 2024. The nation's inflation rate fell slightly in August, but Nigerians are still hampered by high prices.

The high inflation rate in Nigeria dropped slightly in August, but a decline in the value of the nairia and a continued increase in fuel prices are eroding the slight gains and threatening to reignite the inflationary trend.