JUST IN: Inflation hits 13.22% in August, highest in two years, says Statistics Bureau

National Bureau of Statistics (NBS) on Tuesday reported that inflation rate rose to 13.22 per cent in August.

It was the recorded biggest month on month increase so far this year.

The 13.22 per cent inflation rate is the highest since April 2018, the NBS data showed.

“The consumer price index, which measures inflation increased by 13.22 per cent (year-on-year) in August 2020. This is 0.40 per cent points higher than the rate recorded in July 2020 (12.82 per cent).

“On a month-on-month basis, the headline index increased by 1.34 per cent in August 2020. This is 0.09 per cent higher than the rate recorded in July 2020 (1.25 per cent).”

The composite food index rose by 16 per cent in August, compared to 15.48 per cent in July, according to the statistics office.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

COVID-19: Not Yet Uhuru •Will Nigerians’ Indifference Spark Its Second Wave?
The spate of the deadly coronavirus pandemic surged from over three million cases in April to over twenty-six million cases in August. But while it is still increasing in some parts of the world, the infection rate, according to the figure released by authorities daily, is reducing in Nigeria…

Yoruba Summit Group Issues Red Alert On Nigeria
THE regular meeting of the Yoruba Summit Group has ended. It undertook an in-depth review the state of Nigeria in relation to the interests and aspirations of the Yoruba Nation…

Heed Obasanjo’s Warning Now, Leaders Tell Buhari
EMINENT leaders and elder statesmen from across the country have tasked President Muhammadu Buhari to heed the warning by former President Olusegun Obasanjo that the country is now more divided and nearing a failed state status, calling for urgent move to pull the country…

Crisis Rocks South-West PDP Again

THE crisis rocking the Peoples Democratic Party (PDP) in the South-West Zone has deepened as members of the Caretaker Committee have dissociated themselves from a statement credited to the chairman of the committee, Mr Dayo Ogungbenro, on who should be the leader…

You might also like
Comments

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More