Nigeria’s headline inflation has continued to rise as it hit 24.08 percent in July from the 22.79 percent recorded in June.
Data released by the Nigerian Bureau of Statistics revealed that food inflation rose to 26.98 percent in July from the 25.25 percent recorded the previous month.
“Headline Inflation for July 2023 was 24.08% from 22.79% in June 2023. Food Inflation was 26.98% in July 2023 from 25.25% in June 2023. Urban Inflation was 25.83%, rural Inflation was 22.49%,” a report by the NBS read.
The latest data comes just as the country’s currency continues to decline at the Forex market.
Checks by News About Nigeria on Tuesday revealed that the Naira currently exchanges at N945 per dollar. This had adversely affected the pump price of fuel among other vital commodities.
More to follow…
