Nigeria’s headline inflation increases to 25.80 per cent

Nigeria’s inflation rate rose from 24.08% in July 2023 to 25.80% in August 2023, according to the National Bureau of Statistics’ latest Consumer Price Index Report. This is a 1.72% increase over the previous month and a 5.27% increase over the same month last year.

In other words, the cost of goods and services in Nigeria is increasing at a rapid pace. This is making it difficult for people to afford basic necessities and is causing financial hardship for many.

The government is taking steps to address the issue of inflation, but it is unclear when the situation will improve. In the meantime, Nigerians are advised to be careful with their spending and to save money whenever possible.

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