x

BREAKING: Inflation Hits 20.77%, Highest in 17 Years

The Consumer Price Index (CPI) which measures the rate of change in prices of goods rose to 20.77 per cent year–on-year in September compared to 16.63 per cent in September 2021, the National Bureau of Statistics (NBS) stated Monday.

The NBS noted that the 4.14 percentage rise in the headline index, the highest in 17 years, indicated that the general price level was higher relative to the preceding year.

The food inflation rate increased by 3.77 per cent to 23.34 per cent year-on-year compared to 19.57 per cent in the preceding year.

According to the statistical agency, the rise in food index was caused by increases in prices of bread and cereals, food products, potatoes, yam, and other tuber, oil, and fat.

The core index, which excludes the prices of volatile agricultural produce, also rose by 3.86 per cent to 17.60 per cent year-on-year in September compared to 13.74 per cent in the corresponding month in 2021.

Details later…

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Arokodare Scores as Super Eagles Hold Russia to 1-1 Draw

Tolu Arokodare opened his Super Eagles goal account as...

Strong Capital Market Key to Nigeria’s Economic Future – NGX Chairman

Chairman of the Nigerian Exchange Group (NGX), Dr. Umaru...

Veteran Highlife Legend Mike Ejeagha Dies at 95

Renowned highlife musician and folklorist Mike Ejeagha, famed for...

Eid-el-Kabir: Northern CAN Greets Muslims, Urges Govt Action on Security

By Achadu Gabriel, Kaduna The Christian Association of Nigeria (CAN),...

Sultan Commends Sokoto Governor for Delegating Authority to Deputy

The Sultan of Sokoto and spiritual leader of Nigeria’s...

Eid Mubarak: NUJ FCTA Chapel Felicitates with Muslim Journalists, Prays for Peace and Unity

By Joyce Babayeju As Muslim faithful across Nigeria and the...

Eid-El-Kabir: Fatimah Observes Prayers with Kogites in Eika Ohizenyi

By Noah Ocheni, Lokoja The Kogi State Commissioner for Women...

Former Chief Justice Mohammed Uwais Passes Away at 89

Former Chief Justice of Nigeria, Justice Mohammed Uwais, has...
spot_img

Related Articles

Popular Categories

spot_imgspot_img