The inflation rate in Nigeria rose to 25.80% in August from 24.8% in July.
This was revealed on Friday in the August 2023 Consumer Price Index Report by the National Bureau of Statistics.
August 2023’s headline inflation rate is 1.72 percent higher than July 2023’s rate.
The annualized rate of inflation in September 2022 was 20.52%, 5.27% over the rate reported in August 2022.
Accordingly, the number suggested that August 2023’s headline inflation rate (year-on-year basis) was higher than August 2022’s.
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