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.
Discover more from EkoHotBlog
Subscribe to get the latest posts to your email.
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611