Abiola Seun |
The National Bureau of Statistics (NBS), has said Nigeria’s inflation rate climbed to a 30-month high, as it rose further to 14.23 percent in October.
According to the latest figures published on the website of the bureau, the new inflation rate is 0.52 percent points higher than the rate recorded in September 2020 (13.71 per cent).
In the report, the composite food index rose by 17.38 per cent in October 2020 compared to 16.66 per cent in September 2020.
“The highest increases were recorded in prices of Passenger transport by air, Hospital and Medical Services, Passenger transport by road, Pharmaceutical products, Motor cars, Vehicle spare parts, Maintenance and repair of personal transport equipment, Hairdressing salons and personal grooming establishments, Miscellaneous services relating to the dwelling, Paramedical services, and shoes and other footwear
© 2020, maritimemag. All rights reserved.