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Wednesday, November 30, 2022

Nigeria’s Headline inflation for July Climbs to 12.82%

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Inflation figures for July 2020 released by the National Bureau of Statistics (NBS) shows that Nigeria’s headline inflation rose for the 12th consecutive month to 12.82 percent YoY (1.25% MoM).
The 26 basis points rise in the current inflation rate compared to the previous reading was primarily driven by the acceleration in food inflation
  • Food inflation rose by 30 bps to 15.48% YoY (June 2020: 15.18% YoY)
  • Core inflation moderated by 3 bps to 10.10% YoY (June 2020: 10.13% YoY)
  • Urban inflation advanced by 22 bps to 13.40% YoY. Similarly, Rural inflation climbed by 29 bps 12.28% YoY.
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