Nigeria’s inflation quickens to 21.09% on higher import costs, others

Nigeria’s headline inflation rate rose for the ninth consecutive month to 21.09 percent in October 2022 from 20.77 percent in the previous month, official data released on Tuesday show.

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The National Bureau of Statistics, in its latest Consumer Price Index report, said the factors responsible for the increase were the disruption in the supply of food products, increase in cost of importation due to the persistent currency depreciation, and general increase in the cost of production.

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