Inflation rate hits 17-year high of 20.8%; NBS reports soaring food prices
For the first time in 17 years, Nigeria’s inflation rate rose to 20.8 percent as a result of soaring food prices and supply chain disruption, according to the National Bureau of Statistics (NBS). The Consumer Price Index report for September 2022 released on Monday shows that inflation figure for the preceding month – August – was 20.52 percent. The NBS …