Nigeria’s inflation hits new high at 20.52% in August
Nigeria‘s headline inflation climbed to a new high of 20.52 per cent in August, the National Bureau of Statistics posted on Thursday.
This is contained in the federal statistics office’ Consumer Price Index (CPI) report for the month of August 2022.
Making this disclosure in a tweet on its official Twitter page, NBS wrote: “Headline Inflation for August 2022 was 20.52%.”
The latest inflation data represents a 0.88 per cent increase from the 19.64 per cent recorded in July 2022.
Peoples Gazette in August reported that Nigeria’s inflation rate reached a 17-year high of 19.64 per cent in July with food inflation rising to 22.02 per cent.
The NBS tied the July inflation increase to hike in the cost of bread and cereals, food items, potatoes, yams, and other tubers, as well as meat, fish, oil, and fat.
More to follow…
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
NationWide
Fashion entrepreneur, others task youths on skills acquisition for self-reliance
Mr Obi called for government support and funding for young entrepreneurs.
States
APC governorship candidate unveils plans to transform Ogun
Mr Adeola spoke on Friday during an interactive session with journalists at the NUJ secretariat in Abeokuta.
States
Independence: Sanwo-Olu advises Nigerians to unite for national growth
The governor stressed that national development could not be left to government alone.
States
AgriConnect: FG, World Bank, Oyo, IITA join forces to bolster food security
Mr Makinde said Nigeria was not lagging behind in agricultural activities.
Heading 4
Sri Lanka-bound 44kg hashish, 13kg cocaine intercepted at Canada’s Toronto Pearson’s airport
The suspect was subsequently arrested by law enforcement officers before being transferred into the custody of the Royal Canadian Mounted Police (RCMP).
NationWide
Africa Magic airs documentary celebrating Olu Jacobs’ legacy
The late Jacobs co-founded the Lufodo Group and the Lufodo Academy of Performing Arts with his wife.
