Business
Inflation in Nigeria soars by 15.99%
The Consumer Price Index, (CPI) which measures inflation increased by 15.99 percent (year-on-year) in October 2021.
According to the National Bureau of Statistics (NBS) in its October inflation report stated that it is 1.76 percent points higher than the rate recorded in October 2020 (14.23) percent.
Increases were recorded in all COICOP divisions that yielded the Headline index.
On month-on-month basis, the Headline index increased by 0.98 percent in October 2021, this is 0.17 percent rate lower than the rate recorded in September 2021 (1.15) percent.
The percentage change in the average composite CPI for the twelve months period ending October 2021 over the average of the CPI for the previous twelve months period was 16.96 percent, showing 0.13.
-
News2 days agoFRSC opens 2026 nationwide recruitment, online applications begin July 3
-
Football6 days agoAfrica breaks World Cup record with seven teams in knockout stage
-
Entertainment4 days agoActress Cossy Ojiakor shares flooded home as heavy rainfall wreaks havoc in Lagos
-
Football1 week agoNetherlands to face Morocco, Brazil draw Japan in 2026 World Cup round of 32
-
Business5 days agoLogistics bottlenecks threaten Nigeria’s economic growth, industry leaders warn
-
Business1 week agoNAFDAC, FCCPC others partners OSOA Foods advocacy on food safety, MSME growth
-
Business5 days agoInflation, high interest rates loom as FG credit hits N40.38tn
-
Comments and Issues1 week agoOld age is expensive