- The National Bureau of statistics stated that Nigeria’s inflation in July recorded a 17 year high. It rose to a record 19.64 percent, the highest since September 2005.
The National Bureau of statistics stated that Nigeria’s inflation in July recorded a 17 year high. It rose to a record 19.64 percent, the highest since September 2005. In June the Consumer Price Index (CPI) was also high at18.60 per cent.
The increase was mainly led by food inflation, which surged to 22.02 percent in July from 20.60 percent in June. The prices of bread and cereals, food products, potatoes, yam and other tubers, meat, fish, oil, and fat registered a steep rise. Among the states, Akwa Ibom, Ebonyi and Kogi states witnessed the highest inflation while Jigawa, Kano and Borno recorded the lowest.
Meanwhile, the Core inflation, which excludes the prices of agricultural products, stood at 16.26% in July 2022, compared to 15.75% recorded in the previous month. According to the report, gas, liquid fuel, solid fuel, passenger transport by road and air, garments, cleaning, repair and hire of clothing showed the highest rise.
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https://trendsnafrica.com/nigeria-implementing-transparency-norms-in-letter-and-spirit-buhari/
