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Inflation rises by over 13 per cent

Nigeria’s inflation rate for August has risen by 13.22 percent, the highest increase in 28 months.

Data released by the National Bureau of Statistics (NBS) on Tuesday indicates that this is the 20th consecutive rise in the inflation rate.

Food inflation rose by 16.0 percent in August 2020 compared to 15.48 percent in July 2020, while core inflation, which excludes the prices of volatile agricultural produce, stood at 10.52 percent in August 2020 compared to 10.10 percent recorded in July 2020.

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