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Nigeria’s inflation rate now 13.71%

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6 years ago

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Coronation Merchant Bank projects 22.2% rise in Nigerian inflation
The Nigerian inflation rate rose to 13.71% (year-on-year) in September 2020.
This indicates a 0.49% point increase from the 13.22% recorded in August 2020 as contained in the Consumer Price Index (CPI) report, released by the National Bureau of Statistics (NBS).
The composite food index rose by 16.66% in September 2020 compared to 16% in August 2020.
In the same vein, the ”All items less farm produce” or Core inflation, which excludes the prices of volatile agricultural produce stood at 10.58% September 2020.
The highest increases were recorded in prices of Passenger transport by air, Medical services, Hospital services, Pharmaceutical products and Passenger transport by road.
Others are Motor cars, Vehicle spare parts, Maintenance and repair of personal transport equipment, Repair of furniture and Paramedical services.
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