Nigeria’s inflation price expanded to a brand new 17-yr excessive of 21.09% in October 2022, marking a 0.32% factors growth from 20.77% recorded in September. This is consistent with the Consumer Price Index (CPI) file launched via way of means of the National Bureau of Statistics (NBS). Food inflation additionally surged to 23.72% withinside the overview month from 23.34% withinside the preceding month, even as the center inflation price rose to 17.76% from 17.6%. According to the NBS, the upward push withinside the meals inflation price turned into because of will increase in fees of bread and cereals, meals products, potatoes, yams and different tubers, and oil and fat. On the opposite hand, the best will increase withinside the center basket have been recorded in fees of gas, liquid fuel, passenger delivery via way of means of air, strong fuel, and motors spare parts.

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