Nigeria’s Inflation Rate Climbs to 11.61 percent

Nigeria's inflation rate

The Consumer Price Index (CPI), which measures inflation, again rose to 11.61 percent (year-on-year) in October 2019 compared to 11.24 percent in the preceding month, according to the National Bureau of Statistics (NBS).

Food inflation increased to 14.09 percent in the month under review compared to 13.51 percent in September.

Also, core inflation, which excludes the prices of volatile agricultural produce, however, slowed to 8.88 percent (year-on-year) in October, compared to 8.94 percent recorded in the preceding year.

Details later…

Source: THISDAY

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