Owing to the increase in the cost of food, electricity, fuel and other basket of goods, headline inflation rose from the 32.15 per cent in August 2024 to 32.70 per cent in September 2024, according to the National Bureau of Statistics (NBS)
This was contained in a press statement endorsed by the Statistician-General of the Federation Saminu Adeniran issues yesterday.
He said: “In September 2024, the headline inflation rate increased to 32.70per cent relative to the August 2024 headline inflation rate which stood at 32.15per cent.”
Recall that the NBS said inflation declined from 34.19per cent in June 2024 to 33.19per cent in July 2024.
Also yesterday, the Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, regretted that after a few months of deceleration, the inflation numbers had returned to a spiraling path.
He said tackling inflation required urgent government intervention to address the challenges inhibiting production, productivity and security in the economy. The real sector of the economy, he said, needs to be incentivised to reduce production costs.
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