Nigeria’s Inflation Rate Jumps To 14.23%, Highest in Four Years
Nigeria’s inflation figures have now hit 14.23 percent according to the latest figures released on Monday by the National Bureau of Statistics (NBS).
This is the highest it has reached in the last four years, Within Nigeria understands.
According to the NBS, consumer price index, which measures inflation, hit 14.23 percent in October.
The October CPI/Inflation report released on Monday showed that food inflation hit 17.38 percent from 16.66 percent in September.
According to the bureau, the rise in the food index was caused by increases in prices of bread and cereals, potatoes, yam and other tubers, meat, fish, fruits, vegetable, alcoholic and food beverages and oils and fats.
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