Nigeria’s headline inflation rate climbed to 33.88% in October 2024, up from 32.7% in September, reflecting a month-on-month increase of 1.18 percentage points. This was disclosed in the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Friday.
The NBS attributed the inflation rise to increased transportation costs and higher food prices, both of which have put significant pressure on household budgets. On a year-on-year basis, the inflation rate in October was 6.55 percentage points higher than the 27.33% recorded in the same period last year.
The report also noted a slight month-on-month increase in the headline inflation rate for October 2024, which stood at 2.64%, up from 2.52% in September.
Leave feedback about this
You must be logged in to post a comment.