19.64% inflation rate highest-ever in 17 years, says NBS

Nigeria’s inflation rate rose from 18.6% to 19.64% within a month, the National Bureau of Statistics said yesterday.

The Bureau attributed the 17-year all-time high 1.82% jump – the highest in 17 years – to rising food prices and other Consumer Price Index (CPI).

Also listed as contributors were the increase in costs of gas and liquid/solid fuel; hike in road/air transport fares; garments, cleaning, repair and clothing.