Nigeria’s headline inflation rate increased to 33.88% in October 2024, up from 32.7% in September 2024, reflecting a 1.18 percentage point month-on-month increase.
This was contained in the National Bureau of Statistics (NBS) Consumer Price Index (CPI) report released on Friday.
The Bureau attributed the rise in inflation to increased transportation costs and higher food prices.
On a year-on-year basis, the headline inflation rate was 6.55% points higher than the rate recorded in October 2023 (27.33%).
