Nigeria's Inflation Rate Sees an Upsurge After a Period of Decline

Nigeria has witnessed a sudden shift in its inflation landscape, as the inflation rate surged for the first time in three months, signaling a reversal of the downward trend that had provided some relief to consumers and policymakers alike. According to the latest reports released by the National Bureau of Statistics (NBS), the Consumer Price Index (CPI), which measures the average change over time in the prices paid by consumers for goods and services, climbed to 19.6% in September 2024.

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