BREAKING: Inflation in Nigeria Rises to 25.80 in August

Rising food costs trigger survival challenges throughout Nigeria, intensifying nationwide concerns

Inflation in the country continued its upward trend in August, reaching 25.80%, up from the 24.08% recorded in July.

PulseNets reports that the latest data from the National Bureau of Statistics (NBS) reveals a significant 1.72 percentage point increase in the headline inflation rate compared to July 2023.

When comparing August 2023 to August 2022, there is a substantial increase in the inflation rate, with a rise of 5.27 percentage points.

Also Read: Fuel Subsidy: Nigeria’s Inflation to hit 25% — World Bank

In August 2022, it was 20.52%, but in August 2023, it surged to 25.80%. This year-on-year increase indicates that prices increased significantly more in August 2023 than in the same month the previous year.

2 COMMENTS

Comments are closed.