Nigeria’s inflation increase rose to 26.72%, a 0.92%-point rise from the previous month’s 25.80%. This data is from the recently released Consumer Price Index (CPI) report for September 2023 by the National Bureau of Statistics (NBS).
The surge in inflation is primarily attributed to the removal of petrol subsidies and the devaluation of the official exchange rate, both significantly impacting consumer prices.
Month-on-month inflation rose to 2.18% representing 1.08% difference from the previous month of August.
Details later…
