BREAKING: Nigeria’s inflation rate rises to12.26 % in March, highest in 23 months

By Emmanuel Elebeke 

 The Consumer Price Index, (CPI) which measures inflation increased by 16.63 per cent (year-on-year) in September 2021. 

This is 0.38 per cent points lower than the rate recorded in August 2021 (17.01) per cent.

The decline also represents a consistent decline of inflation rate in the last seven months as increases were recorded in all COICOP divisions that yielded the Headline Index.

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On a month-on-month basis, the Headline Index increased by 1.15 per cent in September 2021, this is 0.13 per cent rate higher than the rate recorded in August 2021 (1.02) per cent.

Presenting the report at a press briefing, the Statistician-General of the National Bureau of Statistics, NBS, Dr Simon Harry, said the decline in the inflation rate is an indication of a positive trend and recovery of the economy considering the difficult situation the economy is currently in, assuring that the trend would be maintained for a long time to come.

Vanguard News Nigeria

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