June 25, 2024

Economic crisis, job losses don worst, food price don increase.


Nigeria inflation rate reach per cent mark for August 2022, e show how di cost of living wey Naija families and firms dey face

Na di biggest number since October 2005 with di food cost about 23.12 per cent for year-on-year basis, e follow dey represent 2.82 percent increase from 20.30 per cent for August 2021.

YOU FIT LIKE READ: Job losses don make pension savings withdrawal increase by 17% to N6.6bn

For month-on-month basis, inflation rise to 20.52 per cent for di month of August, from 19.64 per cent in July, according to the latest Commodity Price Index report wey National Bureau of Statistics publish on Thursday.

Di CPI measure di average monthly change for di price of goods and services for nation.

According to di NBS, di inflation rate be 3.52 per cent points higher unlike di rate wey dem record for August 2021, wey be 17.01 per cent.

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