The National Bureau of Statistics says Nigeria’s inflation rose to 25.80% in the month of August 2023. This is 1.72% points higher than the 24.08% recorded in July according to the Consumer Price Index report for August 2023 just released by the NBS.
The report says the development results from the removal of petrol subsidies and the devaluation of the official exchange rate on consumer prices.
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NBS says Month-on-month inflation rose to 3.18% in the review month from 2.89% recorded in the prior month.
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