Nigeria headline inflation rate don rise to 32.70% for September 2024, after e don drop for July and August, according to di latest Consumer Price Index report from di National Bureau of Statistics. Dis one mean say e don increase by 0.55% from August wey be 32.15%, wey show say price pressure still dey for di country.
Year-on-year, inflation don jump by 5.98 percentage points compared to di 26.72% wey dem record for September 2023. Di report talk say, “For September 2024, di Headline inflation rate na 32.70% compared to August 2024 wey be 32.15%. If we look di movement, di September 2024 Headline inflation rate show increase of 0.55% compared to August 2024.”
Di report still highlight say, “Year-on-year basis, di Headline inflation rate don increase by 5.98% compared to wetin we record for September 2023 (26.72%). Dis show say di Headline inflation rate (year-on-year basis) increase for September 2024 when we compare am to di year-on-year rate for September 2023.”
Dem also note say, “For month-on-month basis, di Headline inflation rate for September 2024 na 2.52%, wey be 0.30% higher than di rate for August 2024 (2.22%). Dis mean say for September 2024, di rate wey average price level dey increase higher pass di rate wey e increase for August 2024.”
Food prices still dey contribute to inflation, as food inflation rate rise reach 37.77% for September 2024, wey be big jump from di 30.64% wey dem record for di same period for 2023. Di increase for food inflation na mostly because of di rise in prices of things like rice, maize, beans, and yam. On top month-to-month basis, food inflation still rise reach 2.64% for September, up from 2.37% for August.
