x

BREAKING: NBS- Nigeria’s inflation hits 13.22%, records biggest monthly increase

The nation’s inflation rate has recorded its biggest increase so far this year, rising to 13.22 per cent in August, the National Bureau of Statistics said on Tuesday.

The 13.22 per cent inflation rate is the highest since April 2018, the NBS data showed.

The NBS, in its latest consumer price index report, said, “The consumer price index, which measures inflation increased by 13.22 percent (year-on-year) in August 2020. This is 0.40 percent points higher than the rate recorded in July 2020 (12.82 percent).

“On a month-on-month basis, the headline index increased by 1.34 percent in August 2020. This is 0.09 per cent higher than the rate recorded in July 2020 (1.25 per cent).”

The composite food index rose by 16 per cent in August, compared to 15.48 per cent in July, according to the statistics office.

“This rise in the food index was caused by increases in prices of bread and cereals, potatoes, yam and other tubers, meat, fish, fruits, oils and fats and vegetables,” it added.

RELATED POSTS

BREAKING: Nigeria’s inflation hits 12.56% in June – NBS

Nigeria’s inflation jumps to 12.40%, highest in 25 months-NBS

Inflation: MPC urges FG to leverage on PPP for investment on infrastructure

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalistAs...

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...

WOMAN empowers over 70 Women in Yenagoa

From Rhoda Nnachi, YenagoaIn commemoration of the International Women's...

Nigeria At Crossroads: Underpinnings Of Good Governance, Encumbered By Leadership Quagmire

PATRICK WEMAMBUJohn Maxwell, celebrated American Author and Speaker could...

House Public Accounts Committee Recovers ₦28.7 Billion for the Federation in One Week

Secures Additional ₦199.3 Million from Zenith Bank, GTB Through...

Eha-Amufu indigenes in Enugu debunk allegation of recent mass killings, arson

… I’m alive, rape victim denies protesters' claim she's...

FG Moves to fast-track SDGs Implementation at all levels

By Bobby OshokeAs Nigeria continues regional consultations on...

Plateau group commends Arch Bankat for his outstanding achievements at JMDB

By Israal Adamu, JosPlateau Youths for Good Governance Agenda...

*NTAC DG, Buba Yakub Celebrates Amb.Tuggar On His Birthday.

*Lauds His Selfless Commitment To Service To Nigeria And...

SDP Youth Group Rejects el-Rufai’s Defection, Alleges Attempt To Hijack Party

*Say's he started pushing for SDP leadership change less...
spot_img

Related Articles

Popular Categories

spot_imgspot_img