Nigeria's inflation hits 13.2%, records biggest monthly increase in 2020.

By Agbecha Luther   2 weeks ago   144
Business - Top Stories

 

featured image

NIGERIA'S INFLATION HITS 13.2%, RECORDS BIGGEST MONTHLY INCREASE IN 2020

 

The nation’s inflation rate has recorded its biggest increase so far this year, rising to 13.22 per cent in August, the National Bureau of Statistics said on Tuesday.

The 13.22 per cent inflation rate is the highest since April 2018, the NBS data showed.

The NBS, in its latest consumer price index report, said, “The consumer price index, which measures inflation increased by 13.22 percent (year-on-year) in August 2020. This is 0.40 percent points higher than the rate recorded in July 2020 (12.82 percent).


“On a month-on-month basis, the headline index increased by 1.34 percent in August 2020. This is 0.09 per cent higher than the rate recorded in July 2020 (1.25 per cent).”

The composite food index rose by 16 per cent in August, compared to 15.48 per cent in July, according to the statistics office.


“This rise in the food index was caused by increases in prices of bread and cereals, potatoes, yam and other tubers, meat, fish, fruits, oils and fats and vegetables,” it added.

[NewsNaira]


Share this article!


Login to comment and earn


That's a really good increase


(Quote) (Likes)
Himan Adamu
2 weeks ago

That's a great


(Quote) (Likes)
Godfrey Ocheje
2 weeks ago

Sjsjzjzhzzjzkzz


(Quote) (Likes)
Godfrey Ocheje
2 weeks ago

Ksjsjsajaksksidhdhxbx


(Quote) (Likes)
Tomi Popoola
2 weeks ago

People will die of starvation


(Quote) (Likes)

This is terrible


(Quote) (Likes: 1)
Onoja Peter
2 weeks ago

the country is just getting had


(Quote) (Likes)
Ernest
2 weeks ago

Best country😏


(Quote) (Likes)
Osama Precious
2 weeks ago

That very very very good one at that


(Quote) (Likes)
Abubakar Yarima
2 weeks ago

Bad for entrepreneur


(Quote) (Likes)

God no go shame Nigeria


(Quote) (Likes)
Tesleem Usman
2 weeks ago

Good ooooooo


(Quote) (Likes)
Godfrey Ocheje
2 weeks ago

Jjjjtgw jjgmgdggmgtp sign


(Quote) (Likes)
Avyanna Black
2 weeks ago

Hmm some good news


(Quote) (Likes)

People will starve ooooooo 


(Quote) (Likes)

Nigeria naira will continue to fall


(Quote) (Likes)

Woaw...that's interesting


(Quote) (Likes)

That is a good thing 


(Quote) (Likes)
Irabor Chuks
2 weeks ago

Convid19 problems


(Quote) (Likes)

Na for the politicians bag


(Quote) (Likes)


What is News₦aira Income Program(News₦IP)

  • News₦aira Income Program (News₦IP) is a system aimed at raising revenue for registered users that browse the NewsNaira Website. An online program driven by a goal of solving the financial problems among the youths, students, middle class and whoever wishes to take advantage of earning opportunity and making money online legitimately in Nigeria as it creates the channel for participants to earn residual income on weekly basis.
more

How News₦IP Works

  • News₦aira has 2 means of generating income for our members.
    News₦AP: NewsNaira Affiliate Program - With News₦AP, participants earns ₦1,000 whenever they refer anyone to join NewsNaira Income Program. There is no limit to how many people you can refer.

    News₦ARS: NewsNaira Ad Revenue Sharing - With News₦ARS, participants earns residual income bonus by reading news, commentting on articles, publishing forum posts, daily login to their NewsNaira account, and even sharing assigned sponsored post on social media.

    We share our ads revenue with you weekly when you make NewsNaira community your news and information household.
more