THE National Bureau of Statistics (NBS) has disclosed that Nigeria’s headline inflation leaped to 24.08% in July, 2023.
The Bureau revealed that the leap is the highest recorded in the year under review.
NBS stated that inflation rate stood at 22.79% in June, 2023.
The new statistics, therefore, shows a 1.29% increase from the previous month.
“In July 2023, the headline inflation rate rose to 24.08% relative to June 2023 headline inflation rate which was 22.79%
“Looking at the movement, the July 2023 headline inflation rate showed an increase of 1.29% points when compared to June 2023 headline inflation rate.
“On a year-on-year basis, the headline inflation rate was 4.44% points higher compared to the rate recorded in July 2022, which was 19.64%.
“This shows that the headline inflation rate (year-on-year basis) increased in July 2023 when compared to the same month in the preceding year (i.e., July 2022),” NBS revealed.
