Inflation Rate Increases to 26.72 per cent

Nigeria’s inflation rate has reached 26.72 per cent, marking a 0.92 per cent increase from the previous month’s 25.80 per cent.

The National Bureau of Statistics disclosed this on Monday through its latest Consumer Price Index report for September 2023.

The upsurge in inflation is mainly linked to the removal of petrol subsidies and the devaluation of the official exchange rate, both exerting substantial impacts on consumer prices.