Nigeria’s headline inflation increased in September to 26.72%

The headline inflation rate in Nigeria increased from 25.80% in August 2023 to 26.72% in September, a rise of 0.90%.

This information was provided by the National Bureau of Statistics (NBS) in its report on the September Consumer Price Index on Monday.

The headline inflation rate was 5.94 percentage points higher on an annual basis than the rate, which was 20.77% in September 2022.

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This demonstrates that, on an annual basis, the headline inflation rate rose in September 2023 compared to the same month the year before (i.e., September 2022).

Additionally, the headline inflation rate in September 2023 was 2.10 percent, which was 1.08 percent lower than the rate seen in August 2023 (3.18 percent), on a month-over-month basis.

This indicates that the average price level increased at a slower rate in September 2023 than it did in August 2023.