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
-
Nigerian inflation rate climbs to 34.19 percent
The food inflation rate in June 2024 was 40.87% on a year-on-year basis, which was 15.62% points higher compared to the rate ...
-
Outlook of Nigeria’s economic growth is subdued – IMF
To strengthen the outlook, IMF advises major reforms in fiscal, exchange rate, trade and governance to alter the long-running ...
-
Nigeria’s inflation rises to 18.17 per cent
Yobe and Kebbi States recorded deflation in the average price of food items in March 2021.
Latest Blogs
- NMDPRA should balance local content with market competition
- Why ‘T-Pain’ should be Tinubu's least worry
- Access Bank Project 111 providing a lifeline for women battling fibroids
- How Nigeria can boost maritime financing
- The promise and risk of Dangote refinery
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
- COP29: Multilateral development banks to boost climate finance
- Airtel Africa records broad growth in half year results
- UK budget to drive wealth and talent exodus from Britain - investor
- Africa Finance Corporation facilitates $200mn financing for BUA Group
