Nigeria’s Inflation rose to 11.24% in September 2019

Nigeria’s consumer price index, which measures inflation increased to 11.24% in September 2019. This was revealed in the latest inflation report released by the National Bureau of Statistics (NBS).

According to the NBS report,  inflation rose by 0.22% points, higher than the 11.02% recorded in August and 11.08% for July 2019. This means Nigeria’s inflation rose to three months high.

Similarly, food inflation rose to 13.51% compared to 13.17% in the previous month. According to the NBS, the rise in the food index was caused by increases in prices of Bread and cereals, Oils and fats, Meat, Potatoes, Yam and other tubers, Fish and Vegetables.

Also, Core inflation measured by”All items less farm produce” rose to 8.94% from 8.68 recorded in August 2019.

Details provided by the NBS showed that the highest increases were recorded in prices of Cleaning, Repair and hire of clothing, Repair of household appliance, Hospital services, Major household appliances, Glassware, tableware and household utensils, Spirits, Clothing materials, other articles of clothing accessories, Garment and Repair and hire of footwear.

PV: 0