Nigeria experiencing rapid rise in inflation rate-Bureau of Statistics

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Nigeria’s inflation rate has climbed to a 30-month high, as it rose further to 14.23 percent in October, the latest figures by the National Bureau of Statistics (NBS) has shown.

The report published on the website of the bureau shows that the new inflation rate is 0.52 percent points higher than the rate recorded in September 2020 (13.71 per cent).

The figure rose by 1.54 percent between September and October, indicating a 0.06 percent rate higher than the rate of rise between September and August (1.48 percent).