Nigeria’s inflation climbs to 28.20% in October — NBS

Abiodun Akinwumi 2023-12-15 0

Inflation surged to 28.20 per cent in October from 27.33 per cent in September, underscoring a worsening cost of living crisis in the country.

In its new ‘Consumer Price Index: November 2023’ released on Friday, the National Bureau of Statistics revealed that headline inflation surged by 0.87 percentage points in November to a new record high in almost two decades.

It said, “In November 2023, the headline inflation rate increased to 28.20 per cent relative to October 2023 headline inflation rate which was 27.33 per cent.

“Looking at the movement, the November 2023 headline inflation rate showed an increase of 0.87 per cent points when compared to the October 2023 headline inflation rate.