Nigeria’s headline inflation rose to 25.80% in August, from 24.08% recorded in July.
This was disclosed in the latest CPI inflation report from the National Bureau of Statistics (NBS).
The August 2023 headline inflation rate represents a 1.72% point increase when compared to July 2023.
On a year-on-year basis, the headline inflation rate was 5.27% points higher than in August 2022, which stood at 20.52%.
This indicates that the year-on-year headline inflation rate in August 2023 was higher than in the same month of the previous year, namely August 2022.