Food and non-alcoholic Beverages and housing were major drivers of the inflation rate in August 2023, as inflation soared to 25.80 per cent.
The National Bureau of Statistics (NBS) disclosed this on Friday in its Consumer Price Index (CPI). The rate rose from 24.08 per cent recorded in July of the same year.
“In August 2023, the headline inflation rate increased to 25.80% relative to the July 2023 headline inflation rate which was 24.08%. Looking at the movement, the August 2023 headline inflation rate shows an increase of 1.72% points when compared to the July 2023 headline inflation rate.
