JUST IN: Nigeria’s inflation hits new high at 20.52% in August
Nigeria‘s headline inflation climbed to a new high of 20.52 per cent in August, the National Bureau of Statistics posted on Thursday.
This is contained in the federal statistics office’ Consumer Price Index (CPI) report for the month of August 2022.
Making this disclosure in a tweet on its official Twitter page, NBS wrote: “Headline Inflation for August 2022 was 20.52%.”
The latest inflation data represents a 0.88 per cent increase from the 19.64 per cent recorded in July 2022.
Peoples Gazette in August reported that Nigeria’s inflation rate reached a 17-year high of 19.64 per cent in July with food inflation rising to 22.02 per cent.
The NBS tied the July inflation increase to hike in the cost of bread and cereals, food items, potatoes, yams, and other tubers, as well as meat, fish, oil, and fat.
More to follow…
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Hot news Home top
Amusan, Brume, Oluwafemiayo conferred with national honours
The Team Nigeria contingents to the 2022 World Athletics Championships and 2022 Commonwealth Games were received by Buhari on Thursday.
Jos
191,222 newborns registered in Plateau: NPC
According to him, the number of the births registered by the commission represents 76 per cent of the newborn babies during the year.
States
Benue court remands four businessmen over kidnap
The Port Harcourt-based businessmen are being tried on charges bordering on criminal conspiracy, armed robbery, kidnapping and acts of terrorism.
Anti-Corruption
New York attorney rejects Trump’s settlement offer
Mr Trump’s business may suffer a severe blowback should the matter proceed to trial and his team loses.
Education
We’re ready to call off strike: ASUU
Mr Osodeke, however, said this could only be achieved if concrete agreements were reached with the federal government.
Education
ASUU Strike: Protesting students block Ife-Ibadan expressway
Mr Afeez said the association would continue to occupy the major expressways until the strike is called off.
