Prices of Food Increases, Nigeria’s Inflation Drops For Fifth Straight Month-NBS

Prices of Food Increases, Nigeria’s Inflation Drops For Fifth Straight Month-NBS

Naija News reveals that according to The National Bureau of Statistics NBS Nigeria’s inflation rate has dropped for the fifth month in September but prices of food have continued to rise. Information Guide Nigeria

According to NBS, Consumer Price Index (CPI), dropped to 17.01 in August, noting that the rate is lower than 17.38 which was recorded in August.

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The reports showed that the CPI which recorded an inflation increase of 17.01 percent in was lower than the rate recorded in July which was 17.38 percent. Jamb Results

NBS also stated that the composite food index increased by 20.30 percent in August 2021 above 21.03 percent which is recorded in July 2021 adding that the increase in food was caused by an increase in prices of bread and cereals, milk, cheese and egg, oils, and fats, meat and coffee, tea potatoes, yam, and other tubers, food products, and cocoa.

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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