Nigeria, Sept. 23 -- The Central Bank of Nigeria (CBN) expected Nigeria's inflation rate to moderate further in the short- to medium-term. Still, it warned that prolonged geopolitical tensions in the Middle East and election-related spending could put renewed pressure on prices in Nigeria.

The projection was contained in the communique of the 307th meeting of the Monetary Policy Committee (MPC), which noted the continued decline in headline, food and core inflation.

The apex bank said Nigeria's inflation rate is expected to moderate further in the short- to medium-term as improved food supply during the harvest season combines with foreign exchange stability and the delayed effects of previous monetary tightening.

Headline inflation sl...