Nigeria’s inflationary pressure continued upward movement in August peaking at 25.80 percent higher than 24.08 percent in the July figure.
NBS’ latest inflation figure showed an increase of 1.72% points when compared to the July 2023 headline inflation rate.
On a year-on-year basis, the headline inflation rate was 5.27% points higher compared to the
rate recorded in August 2022, which was 20.52%. This shows that the headline inflation rate
(year-on-year basis) increased in August 2023 when compared to the same month in the preceding year .
Details later..
