By Emeka Anaeto, Economy Editor
Nigeria’s inflation readings may close first half positive as research reports indicate a moderation to 15.4 per cent in the month of June 2016, down from 15.6 per cent recorded for the preceding month, May 2016.

The trend has been on upswing month-on-month for the past ten months culminating in a huge 6-year high recorded in May.
National Bureau of Statistics, NBS, is expected to release its June figures this week.

Research reports by FSDH Merchant Bank and Financial Derivatives Company, FDC, headed by Nigeria’s leading economist, Bismark Rewane, were in agreement that the headline rate for June would show a stabilizing range between 15.39 and 15.5 per cent.

The stability would be coming at the backdrop of two major cost-push developments in the macroeconomic policy environment, notably, the upward price adjustment in petroleum products in May and the huge depreciation of the Naira against major currencies in June.

In its report FSDH said it expects the marginal drop in inflation to come from decrease in the prices of tomatoes, beans and rice.