BREAKING: Nigeria inflation climbs to 26.72%

Nigeria’s inflation rate has climbed to 26.72 per cent, marking a 0.92 per cent increase from the previous month’s 25.80 per cent.

The National Bureau of Statistics disclosed this on Monday via its latest Consumer Price Index report for September 2023. It was shared on the X handle of NBS.

The upsurge in inflation is mainly linked to the removal of petrol subsidies and the devaluation of the official exchange rate, both exerting substantial impacts on consumer prices.

It said, “September 2023, the headline inflation rate increased to 26.72 per cent relative to the August 2023 headline inflation rate which was 25.80 per cent.

Source: punch