In August, Nigeria’s inflation rate jumped to 25.80%, up from 24.08% in July.
This was revealed by the National Bureau of Statistics on Friday in its latest Consumer Price Index Report for August 2023.
The headline inflation rate in August 2023 is 1.72 percent higher than in July 2023.
Year on year, the headline inflation rate was 5.27% higher than the rate recorded in August 2022, which was 20.52%.
As a result, the number suggested that the year-on-year headline inflation rate increased in August 2023 compared to the same month the previous year (i.e., August 2022).
