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Inflation Rate Rise to 27.33 per cent in October

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The Nigeria’s inflation rate has surged to 27.33 per cent in October.

The National Bureau of Statistics disclosed this on Wednesday.

In its Consumer Price Index (October 2023) that was released on Wednesday, the NBS stated, that in October 2023, the headline inflation rate increased to 27.33 per cent relative to the September 2023 headline inflation rate which was 26.72 per cent.

The continued rise in inflation has been attributed to the removal of petrol subsidies and the devaluation of the official exchange rate.

Written by: Helen Obih

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