Business
Just in: Nigeria’s inflation rate hits 21.09% for October
Nigeria’s inflation rate accelerated to a new 17-year high of 21.09% in October 2022, marking a 0.32% points increase from 20.77% recorded in September.
This is according to the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).
Food inflation also surged to 23.72% in the review month from 23.34% in the previous month, while the core inflation rate rose to 17.76% from 17.6%.
According to the NBS, the rise in the food inflation rate was caused by increases in prices of bread and cereals, food products, potatoes, yams and other tubers, and oil and fat.
On the other hand, the highest increases in the core basket were recorded in prices of gas, liquid fuel, passenger transport by air, solid fuel, and vehicle spare parts.
More details shortly…
-
Education1 week agoUniversity of Ibadan releases 2026/2027 post-UTME screening results
-
Football1 week agoUnpaid £185m Club World Cup fund sparks fresh FIFA controversy
-
Football3 days agoFrance confirms U-20 Women’s World Cup participation amid FIFA-UEFA rift
-
Business3 days agoNigeria’s external debt service falls 31.5% to $954m in Q1 2026
-
Featured3 days agoOsun Governorship Election: Adeleke faces tough test as APC, ADC mount challenge
-
Latest2 days agoNFF denies calling for Infantino’s resignation
-
Business1 week agoBreaking: NNPCL reduces pump price of petrol as competition intensifies
-
Business2 days agoNNPC faces fresh scrutiny over oil licensing, production claims, transparency