Nigeria’s Consumer Prices Index (CPI), commonly known as inflation, accelerated by 13.22 percent in August 2020, according to data released by the National Bureau of Statistics (NBS) Tuesday morning.
This marks the 12th consecutive uptrend since September 2019 and the highest in 29 months, a BusinessDay analysis shows.
Data from the NBS August 2020 inflation report show that inflation rose month-on-month by 13.22 percent, which is 1.34 percentage points higher than 12.82 percent recorded in July 2020.
Food inflation rose by 16.0 percent in August 2020 compared to 15.48 percent in July 2020.
Core inflation, which excludes the prices of volatile agricultural produce, stood at 10.52 percent in August 2020 compared to 10.10 percent recorded in July 2020.
