BREAKING: Nigeria’s inflation hits 26.72% as food prices rise

Nigeria’s annual inflation rate rose to 26.72 per cent in September from 25.80 per cent in the previous month, the National Bureau of Statistics (NBS) said Monday.

The statistics office said the September 2023 headline inflation rate showed an increase of 0.92 per cent points when compared to the August 2023 headline inflation rate.

The NBS said on a year-on-year basis, the headline inflation rate was 5.94 per cent points higher compared to the rate recorded in September 2022, which was 20.77 per cent.