Nigeria’s annual inflation rate rises again

Nigeria’s annual inflation rate rose in September after recording a two-month consecutive fall.

The headline inflation rate was 32.70 per cent relative to the August headline inflation rate of 32.15 per cent, the National Bureau of Statistics (NBS) announced Tuesday.

Inflation indicators compare prices of goods and services in 12 months. A decline does not necessarily imply a reduction in prices; instead, it shows the rate of price increase had fallen compared to previous months.

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