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Nigeria’s July Inflation Rate Rises to 19.6% – Highest in 17 Years

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Nigeria’s inflation rate rose to 19.64 per cent in July, the National Bureau of Statistics (NBS) said on Monday.

The Consumer Price Index (CPI), which measures the rate of change in prices of goods and services, surged from 18.60 per cent in the previous month.

It is the highest since September 2005.

The NBS said that the rise was fueled in part by surging bread, cereal and gas prices.

Details later…

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