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JUST IN: Nigeria’s Inflation Rate Hits 27 Months High At 12.82% In July

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’s rose to 12.82% in June 2020 making it the highest recorded in 27 months since March 2018 when headline inflation was 13.34%.

JUST IN: Nigeria's Inflation Rate Hits 27 Months High At 12.82% In July
JUST IN: Nigeria’s Inflation Rate Hits 27 Months High At 12.82% In July

This was disclosed in the Consumer Price Index (CPI) report released by the National Bureau of Statistics ().

In June, the inflation rate stood at 12.56$.

The report also shows that Nigeria’s inflation has consistently increased for 11-months, rising from 11.02% in August 2019 to 12.82% in July 2020.

According to the report, the composite food index rose to 15.48% compared to 15.18% recorded in June 2020. Meanwhile, Core inflation, which excludes the prices of volatile agricultural produce, stood at 10.1% in July 2020 compared to 10.13% recorded in June 2020.

Adelowo Adegboyega
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