The National Bureau of Statistic (NBS) has said that Nigeria’s headline inflation has risen for the second time in a row.
Statistics show by a slim margin of 0.05 per cent to 11.28 per cent in September, compared to 11.23 per cent recorded in August.
The latest data released by the NBS shows that the composite food index rose to 13.31 per cent year-on-year in September, driven by an increase in the price of poultry product, vegetables and other important food items.
Similarly, the country’s urban inflation rate increased to 11.70 per cent year-on-year, while the rural inflation rate increased to 10.92 per cent last month.
On a month-on-month basis, the headline index dropped by 0.21 per cent to 0.84 per cent in September, the food sub-index fell by 0.42 per cent points to 1.00 per cent, while the urban index and rural index both fell by 0.14 to 1 per cent and 0.82 per cent each.
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