Nigeria’s inflation hits 14.23 percent as food prices increases

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The National Bureau of Statistics on Monday November 16, released a data which revealed that Nigeria’s inflation rose to 14.23 percent, 0.52 percent higher than the 13.71 percent recorded in September.

According to the data, the core food index rose by 17.38 percent majorly driven by increases in food items. Core inflation also maintained a steady rise to 11.14 percent, from the 10.58 percent reported in August this year.

The bureau said;

“The Consumer Price Index, which measures inflation increased by 14.23 per cent (year-on-year) in October 2020.

“This is 0.52 per cent points higher than the rate recorded in September 2020 (13.71 per cent).”

Urban inflation rose to 14.81 percent year-on-year from the 14.31 percent recorded last month, while rural inflation hit 13.68 percent.

Inflation was highest in Zamfara, Sokoto and Ebonyi, while Lagos, Abuja, and Cross River recorded the lowest in October.

16 Comments

    1. Increment in commodities in Nigeria now is 100%, and if care is not taking it can cause another unrest problem in the country.

  1. They should find lasting solution to what is on ground because this situation is getting out of hand, they should pity us.

  2. The pain we are going through right now is beyond explanation, if to open the bother will solve the issue the government should go ahead.

  3. Incessant increment in food commodities in Nigeria nowadays should be declared as state of emergency because it’s now become unbearable for us.

  4. I think the inflation rate is above that
    Everything in the market is highly expensive and the people are complaining bitterly

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