Nigeria’s headline inflation rate increased to 32.70% in September 2024, following two months of decline, according to the latest Consumer Price Index report by the National Bureau of Statistics.
This marks a marginal rise of 0.55% from August 2024’s 32.15%, reflecting ongoing price pressures.
Year-on-year, inflation surged by 5.98 percentage points from 26.72% in September 2023.
Food prices remain a key driver, with food inflation reaching 37.77%, driven by staples like rice, maize, and yams, further intensifying the inflationary trend.
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