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Nigeria’s Inflation Hits 27.3% Amidst Surging Food Prices: NBS Report

The Consumer Price Index (CPI), indicating the price change for goods and services, increased from 26.72% in the previous month to 27.33% in October 2023, as reported by the National Bureau of Statistics in its Tuesday release of the September CPI report.

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Nigeria has experienced a surge in inflation to 27.3% due to escalating food prices.

The Consumer Price Index (CPI), indicating the price change for goods and services, increased from 26.72% in the previous month to 27.33% in October 2023, as reported by the National Bureau of Statistics in its Tuesday release of the September CPI report.

This marks the tenth consecutive increase in the country’s inflation rate this year.

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