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Inflation rate in Nigeria has increased 24 times in the last 25 months (two years), according to a report.
This is according to an analysis of the Commodity Price Index reports published by the National Bureau of Statistics.
The analysis showed that between October 2021 and October 2023, Nigeria’s inflation increased 24 times, with a singular exception of December 2022 when it slowed to 21.34 per cent from the 21.47 recorded in November 2022.
During the period in review (Oct 2021 – Sep 2023), inflation has increased from 15.99 per cent to 27.33 per cent.
