BEVERLY HILLS, September 14, (THEWILL) – The National Bureau of Statistics, NBS, on Friday released the Consumer Price Index (CPI) which measures inflation with the rate rising from 11.14 per cent in July to 11.23 per cent in August.
The report shows that Nigeria’s inflation has risen for the first time since it started its decline in 18 months ago in January 2017.
“The consumer price index, which measures inflation increased by 11.23 per cent (year-on-year) in August 2018,” it read.
“This is 0.09 percent points higher than the rate recorded in July 2018 (11.14) percent and represents the first year on year rise in headline inflation following eighteenth consecutive disinflation in headline inflation.
“Increases were recorded in all COICOP divisions that yielded the Headline index.
“On month-on-month basis, the Headline index increased by 1.05 percent in August 2018, down by 0.08 percent points from the rate recorded in July 2018 (1.13) percent).”
