Nigeria’s Inflation Rate Rises To 20.52% In August

The National Bureau of Statistics says Nigeria’s inflation rate rose to 20.52 per cent in August 2022. <br />The Bureau stated that in August 2022, on a year–on–year basis, the headline inflation rate was 20.52%. <br />This was 3.52% points higher compared to the rate recorded in August 2021, which was 17.01%. <br />The percentage change in the average CPI for the twelve months period ending August 2022 over the average of the CPI for the previous twelve months period was 17.07%, showing a 0.47% increase compared to 16.60% recorded in August 2021.