Nigeria inflation increases to 20.52 percent

According to data released by the National Bureau of Statistics on Thursday, Nigeria’s headline inflation increased to a record high of 20.52 percent in August.

This information is contained in the federal statistics office’s Consumer Price Index (CPI) report for August 2022.

NBS made this announcement in a tweet on its official Twitter page, stating: “Headline Inflation for August 2022 was 20.52%.”

The most recent inflation figures show a 0.88 percent increase from the 19.64 percent recorded in July 2022.

According to earlier reports, Nigeria’s inflation rate reached a 17-year high of 19.64 percent in July, with food inflation reaching 22.02 percent.

The National Bureau of Statistics linked the July inflation increase to increases in the prices of bread and cereals, food items, potatoes, yams, and other tubers, as well as meat, fish, oil, and fat.

More to details later….

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