The National Bureau of Statistics has today released an update on the inflation rate in the country. The update which was contained in the Consumer Price Index report released today, reveals that the inflation rate has risen by 14%.
According to the report, as at September this year food inflation was at 16.66%, but has risen to 17.38%. The rise in inflation reveals 0.52% increase in the inflation rate.
This bureau noted that the surge in the food index is as a result of increases in prices of foodstuff. The NBS further noted that Core inflation was 11.14% as at October 2020.
According to the NBS, the inflation Zamfara State has the highest inflation rate 17.69 %, Sokoto has 16.99 % and Ebonyi has 16.91% inflation increase, while Cross River State has 10.50% has the lowest increase in inflation.
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