BY MARK ITSIBOR, Abuja
Nigeria’s headline inflation increased by 13.22 per cent (year-on-year) in August 2020. This is 0.40 percent points higher than the 12.82 per cent recorded in July 2020.
According to data from the national Bureau of Statistics (NBS) today, Tuesday, September 15, 2020, increases were recorded in all COICOP divisions that yielded the Headline index
On a month-on-month basis, the Headline index increased by 1.34 percent in August 2020. This is 0.09 percent higher than the rate recorded in July 2020 (1.25 percent).
The percentage change in the average composite CPI for the twelve months period ending August 2020 over the average of the CPI for the previous twelve months period was 12.23 percent, representing a 0.18 percent point rise from 12.05 percent recorded in July 2020.