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Nigeria’s inflation inches up to 32.7 per cent
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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.
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