Nigeria’s Inflation Rate Rises To 20.52% In August –National Bureau of Statistics NBS
Written by Olarotimi Oshin on September 16, 2022
The National Bureau of Statistics (NBS) on Thursday said Nigeria’s inflation rate rose to 20.52 per cent in August 2022.
In its report titled, ‘CPI and Inflation Report August 2022’, the Bureau stated, “In August 2022, on a year–on–year basis, the headline inflation rate was 20.52%.
This was 3.52% points higher compared to the rate recorded in August 2021, which was (17.01%). This shows that the headline inflation rate increased in the month of August 2022 when compared to the same month in the preceding year (that is August 2021).”