Goods, Services Consumed By Nigerians Cost More As July Inflation Hits 12.82%

December inflation Border reopening

Spikes 0.26% higher than June 2020 rate The consumer price index, (CPI) which measures inflation increased by 12.82 per cent (year-on-year) in July 2020. Also, this is 0.26 per cent points higher than the rate of 12.56 per cent recorded in June and the increase in the June was driven by rising prices across the Classification of Individual Consumption According to Purpose (COICOP). On month-on-month basis, the Headline index increased by 1.25 per cent in July 2020. This is 0.04 per cent rate higher than the rate recorded in June…

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