The consumer price index (CPI), which measures the rate of change in prices of goods and services, surged to 19.64 percent in July 2022, up from 18.60 percent in the previous month.
The development indicates a 1.82% month-on-month increase — and the highest inflation rate recorded since September 2005
The National Bureau of Statistics (NBS) said this on Monday in its consumer price index (CPI) report for July 2022.
On a month-on-month basis, NBS said the headline inflation rate in July 2022 was 1.817 %, which was 0.001% higher than the rate recorded in June 2022 (1.816 %).
“The percentage change in the average CPI for the twelve months period ending July 2022 over the average of the CPI for the previous twelve months period was 16.75%, showing a 0.46% increase compared to 16.30% recorded in July 2021,” the report reads.
More to follow…
President Bola Ahmed Tinubu has returned to Nigeria after an extended period of absence, which…
The Central Bank of Nigeria has unveiled a roster of 44 licensed deposit money banks…
A 25-year-old individual named Ahmadu Saminu, originating from Bajoga in the Funakaye Local Government Area…
Black market dollar to naira Exchange Rate Today 8th May 2024 can be accessed below. This…
A gang of bandits launched an invasion in Gusau, the capital of Zamfara State on…
The Rivers State Government has strongly criticized the All Progressives Congress (APC) for its recent…
