The consumer price index, a yardstick used in measuring inflation, in October, hit 14.23 percent, a report by the National Bureau of Statistics (NBS) has shown.
According to NBS, inflation rate went up by 0.52 percentage points which is the highest recorded since July 2016 when the inflation rate increased by 0.65 percentage points.
Inflation measures the rate at which the prices of goods and services increase over a period of time.
The October CPI/Inflation report released on Monday showed that food inflation hit 17.38 percent from 16.66 percent in September.
This bureau attributed the rise in the food index to increases in prices of bread and cereals, potatoes, yam and other tubers, meat, fish, fruits, vegetable, alcoholic and food beverages and oils and fats.
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