- This comes as food inflation rose to 39.16 percent in October 2024, from 37.77 percent in September 2024.
Nigeria’s inflation rose to 33.88 percent in October 2024, the National Bureau of Statistics, NBS, has said.
The October inflation figure, which rose from 32.70 percent recorded in the previous month, was caused by the hike in Food and petrol prices.
The NBS disclosed this on Friday in its Consumer Price Index and Inflation report for October 2024.
According to NBS report, month-on-month, Nigeria’s headline inflation rate in October 2024 was 2.64 percent.
This comes as food inflation rose to 39.16 percent in October 2024, from 37.77 percent in September 2024.
The Central Bank of Nigeria’s Inflation Expectation Survey, released on Tuesday, predicted Nigeria’s inflation to rise.
Recall energy cost rise in the period under review, with petrol pump price rising above N1,030 per litre in October, from N617 in August 2024