BREAKING: Nigeria’s Inflation Soars To 26.72% For September 2023—Nigeria’s inflation increase rose to 26.72%, a 0.92%-point rise from the previous month’s 25.80%. This data is from the recently released Consumer Price Index (CPI) report for September 2023 by the National Bureau of Statistics (NBS).
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The surge in inflation is primarily attributed to the removal of petrol subsidies and the devaluation of the official exchange rate, both significantly impacting consumer prices.
Month-on-month inflation rose to 2.18% representing 1.08% difference from the previous month of August.
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