A report released today by the National Bureau of Statistics (NBS) has shown that Nigeria recorded a 0.61 percent point when compared to the September 2023 headline inflation rate.
The NBS office said the country’s annual inflation rate rose to 27.33 percent in October from 26.72 percent in the previous month. The report indicates that on a year-on-year basis, the headline inflation rate was 6.24 percent points higher compared to the rate recorded in October 2022.
Meanwhile, the consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 26.72 percent in September 2023 — up from 25.80 percent in the previous month.
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