The Consumer Price Index measuring inflation rose to 13.71 per cent year-on-year in September 2020, the highest since 2018.
This is 0.49 percent points higher than the rate recorded in August 2020-13.22 percent, according to CPI/Inflation report released by the National Bureau of Statistics (NBS).
The report stated that on a month-on-month basis, the Headline index increased by 1.48 percent in September 2020. This is 0.14 percent rate higher than the rate recorded in August 2020 (1.34) percent.
Food inflation stood at 16.66 percent in Sept 2020 from 16.00 percent in Aug 2020. Core Inflation at 10.58 percent in Sept 2020 from 10.52 percent in August 2020.
“On a month-on-month basis, the Headline index increased by 1.48 per cent in September 2020. This is 0.14 percent rate higher than the rate recorded in August 2020 (1.34) percent,” the report read.
“The urban inflation rate increased by 14.31 percent (year-on-year) in September 2020 from 13.83 percent recorded in August 2020, while the rural inflation rate increased by 13.14 per cent in September 2020 from 12.65 percent in August 2020.”
According to the NBS, the rise in the food index was caused by increases in prices of Bread and Cereals, Potatoes, Yam and other tubers, Meat, Fish, Fruits and Oils and fats.
