NigeriaJust In: Inflation Rises To 19.64% In July

Just In: Inflation Rises To 19.64% In July

-

- Advertisment -spot_img
FLASH SALES

Nigeria’s inflation rate in the month of July 2022 rose to a 17-year high of 19.64%. This compares to 18.6% recorded in the previous month of June 2022.

Just In: Inflation Rises To 19.64% In July
File image

The latest inflation data is according to the recently released Consumer Price Index (CPI) report for the month of July 2022, by the National Bureau of Statistics (NBS).

According to Nairametrics report, food inflation accelerated to 22.02% from 20.6% recorded in June 2022. According to the NBS, the rise in food inflation was caused by increases in prices of bread and cereals, food products, potatoes, yam and other tubers, meat, fish, oil, and fat.

FREE DELIVERY
In the same vein, the core inflation, which excludes the prices of volatile agricultural produce increased to 16.26% in the month of July 2022, from 15.75% recorded in the previous month.

The highest increases were recorded in prices of Gas, Liquid fuel, Solid fuel, Passenger transport by road, Passenger transport by Air, Garments, Cleaning, Repair and Hire of clothing.

Connect Newswebbs on Twitter, Facebook and LinkedIn

newswebbs
newswebbshttps://newswebbs.com
New Webbs is an independent online news platform launched with the aim of connecting the world with the latest news on the web.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Ibadan Residents Protest Over Economic Hardship

Ibadan, Nigeria - Following high cost of living, food inflation and current economic hardship in the country, the residents...

NGO Relieves Widows With Cash, Food Items In FCT

Abuja, Nigeria -  In a bid to alleviate the current economic challenges in the country, the Touch Me Foundation...

Customs Intercepted 15 Trucks Of Smuggled Foods In Sokoto

Sokoto, Nigeria - The Nigeria Customs Service, on Sunday, said that it intercepted 15 trailers that were fully loaded...

South Africa, Cote d’Ivoire, Other Embassies Owing $5.3M Ground Rents In Abuja

Abuja, Nigeria - Foreign embassies and high commissions owed ground rents of $5,368,218 million in 2023, disclosed the Federal...
- Advertisement -spot_imgspot_img

natnudO Foods, FUNAAB Partner For Entrepreneurial Poultry Project

Abeokuta, Nigeria - Fueled by a shared vision of nurturing future agricultural leaders and boosting Nigeria's food security, natnudO...

GAC Motor Nigeria Pioneers Celebration Of Funke Akindele’s Hallmark Movie

Lagos, Nigeria - The giants of Filmmaking in the Nigerian Entertainment Industry gathered at the world class GAC Motor...

Must read

South Africa, Cote d’Ivoire, Other Embassies Owing $5.3M Ground Rents In Abuja

Abuja, Nigeria - Foreign embassies and high commissions owed...

For Every $1 Gains From Tobacco, Country Spends $3 On Healthcare

Lagos, Nigeria - The Federal Government has stated that...
- Advertisement -spot_imgspot_img

You might also likeRELATED
Recommended to you