NBS: Nigeria’s inflation rate increases in September

Kindly Share This Story:

  

The National Bureau of Statistics (NBS) says the Consumer Price Index, (CPI) which measured inflation for September, 2018 increased to 11.28 percent (year-on-year) from 11.23 percent recorded in August, 2018.

The NBS disclosed this in its “CPI and Inflation Report” for September released in Abuja, Nigeria’s capital.

According to the Bureau, the figure is 0.05 percent points higher than the rate recorded in August, 2018.

The report showed that increases were recorded in all the Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the headline index.

On month-on-month basis, NBS said that the Headline Index increased by 0.84 percent in September from the rate recorded in August (1.05 percent).

It said that the percentage change in the average composite CPI for the 12 month-period ended September over the average of CPI for the previous 12 month-period.

It however measured the CPI at 13.16 percent in the period under review, showing 0.39 percent point from 13.55 percent recorded in August, 2018.


Kindly Share This Story:

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *

amehnews greetings

x
%d bloggers like this: