Nigeria’s annual inflation slowed for the fifth consecutive month in August, creating space for the central bank to consider trimming record-high borrowing costs, according to Bloomberg.

The consumer price index rose 20.1 percent in August, down from 21.8 percent in July, data released Monday by the National Bureau of Statistics showed. The reading was slightly below the 21.6 percent median forecast of three economists surveyed by Bloomberg.

The moderation in prices signals a potential disinflationary trend, bolstering expectations that the Central Bank of Nigeria (CBN) may reduce its benchmark interest rate for the first time in five years at its upcoming meeting on September 22.

The CBN has maintained its policy rate at 27.5 percent over the past three meetings, citing the need for clarity on inflation trends following a revamp of the consumer-price index methodology by the statistics bureau in January.