Nigeria’s consumer price index, (CPI) which measures inflation, increased by 11.24 percent (year-on-year) in September 2019, representing 0.22 percent points higher than the 11.02% recorded in the preceding month.
The National Bureau of Statistics (NBS) attributed the marginal rise of the rate to increases in all the Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the Headline index.
The national official statistics producing and reporting agency stated that on month-on-month basis, the Headline index increased by 1.04 percent in the month under review, or 0.05 percent rate higher than the 0.99 percent rate recorded in August 2019.
The Bureau reported that the percentage change in the average composite CPI for the twelve months period ending September 2019 over the average of the CPI for the previous twelve months period was 11.268 percent, showing 0.003 percent point from 11.271 percent recorded in August 2019.
