Nigeria's inflation spikes to 33.88%, driven by rising food and fuel costs.

Nigeria's inflation rate climbed to 33.88% in October, up from 32.70% in September, driven by higher food and fuel prices. Food inflation reached 39.16%, with staples like rice and maize seeing significant price hikes. Petrol costs also rose, increasing above N1,030 per litre. The National Bureau of Statistics attributed the rise to increased prices of staple foods and energy costs.

November 15, 2024
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