Latest News
Nigeria’s inflation inches up to 32.7 per cent
News Highlight
Food inflation rate in September 2024 was 37.77%. On a year-on-year basis, it was 7.13 percentage points higher than the rate recorded in September 2023 (30.64%).
Nigeria’s inflation rate rose slightly in September 2024 to 32.70%, according to data released on Wednesday by the National Bureau of Statistics. The headline inflation rate was 32.15% in August 2024.
On a year-on-year basis, the September figure was 5.98 percentage points higher compared to the rate recorded in September 2023, which was 26.72%.
Food inflation rate in September 2024 was 37.77%. On a year-on-year basis, it was 7.13 percentage points higher than the rate recorded in September 2023 (30.64%).
Core inflation, which excludes the prices of volatile agricultural produces and energy, stood at 27.43% in September 2024. It rose by 5.59 percentage points compared to the 21.84% recorded in September 2023.
Related News
Latest Blogs
- Access Bank Project 111 providing a lifeline for women battling fibroids
- How Nigeria can boost maritime financing
- The promise and risk of Dangote refinery
- A call for data integrity in Nigeria’s policymaking and governance
- Optimising wet period for dry season farming
Most Popular News
- Kenya’s KCB Bank signs €230mn deal to support SMEs, youth and women
- AfDB has invested $1.44bn to support infrastructure development in Nigeria
- Tinubu expands cabinet in restructuring exercise
- IMF projects global public debt to rise above 100 percent of GDP
- Japan commits $421 million to African Development Fund
- Global markets review for the week ended 18 October 2024