INFLATION RATE

The National Bureau of Statistics (NBS) on Thursday said Nigeria’s inflation rate rose to 20.52 per cent in August 2022. The significant increase reflects the impact of the removal of petrol subsidies and the devaluation of the official exchange rate on consumer prices. Month-on-month inflation rose to 3.18% in the review month from 2.89% recorded […]

Nigeria’s headline inflation rate continued its upward trajectory, reaching a new high of 22.79 percent in June 2023, according to the latest data released by the National Bureau of Statistics on Monday. This marks the sixth consecutive increase in inflation, with the rate climbing from 22.41 percent in the previous month to its current 17-year […]