Nigeria’s Inflation Drops To 15.99% In October

The National Bureau of Statistics says the Consumer Price Index which measures inflation increased by 15.99 per cent (year-on-year) in October 2021, <br />While the country recorded a higher figure in October compared to last year, the inflation rate dropped for the seventh straight month. <br />The agency says that the development indicated an increase of 1.76 per cent points compared with the rate recorded in October 2020. <br />It added that increases were recorded in all Classification of Individual Consumption by Purpose divisions that yielded the headline index.