Nigeria Inflation Trends Slower to 15.99% in October
By Sahabi Abdul
Nigerian consumer prices rose 15.99 percent in October with the index of prices weakening for the seventh consecutive month, data from the National Bureau of Statistics showed.
Yet the numbers remain “1.76 percent points higher than the” 14.23 percent on the corresponding month last year as all the items that make up the Index recorded increases, according to the statistics agencies.
At the same time, Nigerian inflation has continued to recede from this year’s peak of 18.17 percent it reached in March.
Month-on-month the headline inflation rose 0.98 percent in October, 0.17 lower than in the preceding month. Food inflation, a major driver of higher prices, slowed to 18.34 percent in October from 19.57 percent in September.