Nigeria’s inflation hits 30-month high at 13.71%

Nigeria’s inflation hits 30-month high at 13.71%

Soaring food prices to blame Rate beats analyst’s forecasts ______________________ Inflation rates for the month of September in Nigeria soared above analysts’ expectations, attaining its peak since March 2018 at 13.71 per cent year-on-year (YoY) after climbing 49 basis points up from 13.22 per cent in August. The rate recorded in the month is above analysts’ expectations at many quarters. Specifically, the latest rate inflation rate was caused chiefly by the soaring prices of food. According to latest report by the National Bureau of Statistics (NBS), food inflation stood at…

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