17 Views

Recession: Nigeria’s Inflation Rises From 17.9 To 18.3 Percent

The report stated that the prices of food items such as bread, cereals, fish and meat recorded significant increases, while that of fruit items moderated during the period.

The National Bureau of Statistics, NBS, says the Consumer Price Index which measures inflation rate has risen from 17.9 per cent in September to 18.3 per cent in October.

This is contained in the the NBS report, released on Monday, which attributed the increase in inflation rate to pressures recorded in housing, electricity, gas, water, lubricants for personal transport and education.

The report reads in part, “The CPI which measures inflation increased by 18.3 per cent (year-on-year) in October 2016, 0.48 percent points higher from the rate recorded in September.

“Increases were recorded across almost all major divisions which contribute to the headline index. Communication and restaurants and hotels recorded the slowest pace of growth in October, growing at 5.7 per cent and 9.4 per cent year-on-year respectively.

“The food index rose by 17.1 per cent (year-on-year) in October, up by 0.47 per cent points from 16.6 per cent recorded in September.

“During the month, the highest increases were seen in housing, water, electricity, gas and other fuels as well as fuels and lubricants for personal transport equipment and education.

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

Latest Posts

Comedian, AY’s Brother, Lanre Makun Welcomes Twins With His Wife
Buzz & Trends
39 views
Buzz & Trends
39 views

Comedian, AY’s Brother, Lanre Makun Welcomes Twins With His Wife

Mabel - September 21, 2017

Nigerian top comedian and actor, AY Makun’s younger brother, Lanre Makun and his wife Joy Ofoebu have welcomed a set of twins. The couple who got married…

Hilarious Reasons Why Nigerians Eat Meat Last
Food and Health
54 views
Food and Health
54 views

Hilarious Reasons Why Nigerians Eat Meat Last

PH - September 21, 2017

You must have observed at the restaurant that many Nigerians eat their meat last. It raises the question, why do they eat the meat at the end…

How Singer Wizkid Made History As The First Afro-pop Musician To Debut Guinness Book Of World Records
Entertainment
58 views
Entertainment
58 views

How Singer Wizkid Made History As The First Afro-pop Musician To Debut Guinness Book Of World Records

Mabel - September 21, 2017

Nigerian Singer, Wizkid has not only dominated the African music arena, he is conquering new grounds on the international music field. The singer recently debuts Guinness Book of…

Here Are The Top 5 Traditional Dances From Eastern Nigeria
Art, History and Culture
36 views
Art, History and Culture
36 views

Here Are The Top 5 Traditional Dances From Eastern Nigeria

PH - September 21, 2017

Whether it’s celebratory, energizing, cathartic, funny, or just plain embarrassing, dance is one of the best art forms for expression. People gyrate in order to celebrate, commemorate…

Why Rev. Fr. Ejike Mbaka Asked Rangers FC To Return His N2 Million Donation
Religion
58 views
Religion
58 views

Why Rev. Fr. Ejike Mbaka Asked Rangers FC To Return His N2 Million Donation

Mabel - September 21, 2017

Catholic priest and Spiritual Director of Adoration Ministry, Enugu State, Rev. Fr. Ejike Mbaka, has reportedly asked for his N2 million donation he made to the Rangers…

The Best 10 Amazing Mobile Apps For Every Nigerian Student
Technology
40 views
Technology
40 views

The Best 10 Amazing Mobile Apps For Every Nigerian Student

PH - September 21, 2017

The proliferation of smartphones and gadgets in recent times has revolutionized the way we conduct and manage our daily activities. Virtually every aspect of human endeavor has…

Here Is What Veteran Musician Eedris Abdulkareem Said About Timaya (Video)
Entertainment
45 views
Entertainment
45 views

Here Is What Veteran Musician Eedris Abdulkareem Said About Timaya (Video)

Mabel - September 21, 2017

In this new video of an interview with Eedris Abdulkareem he says Timaya is an ingrate who forgot his roots. Eedris: “He wouldn’t have been that successful if he…

Top 20 Nigerian Universities With Most Employable Graduates
Best of Nigeria
62 views
Best of Nigeria
62 views

Top 20 Nigerian Universities With Most Employable Graduates

PH - September 21, 2017

Stutern, an online job platform has published a list of 20 universities with the most employable graduates in Nigeria. Statistics were obtained between 2010-2016. Only three Private…

President Muhammadu Buhari Among The Most Tweeted World Leaders At The UN General Summit
Politics
52 views
Politics
52 views

President Muhammadu Buhari Among The Most Tweeted World Leaders At The UN General Summit

Mabel - September 21, 2017

According to reliable data from @TwitterData, Nigeria’s President Muhammadu Buhari is one of the most tweeted about World Leaders during the first day of the #UNGA General Debate. (18/19 September,…

Disvirgin, Next Tomorrow And 8 Other Common Words Nigerians Use Everyday That Don’t Exist
Funny
56 views
Funny
56 views

Disvirgin, Next Tomorrow And 8 Other Common Words Nigerians Use Everyday That Don’t Exist

PH - September 21, 2017

Many people speak English as their first language. It is one of the most commonly spoken languages in the world. Nigerians are very good at a number…

8 Important Documents Required For Nigerian Passport Interview
Holiday and Travels
62 views
Holiday and Travels
62 views

8 Important Documents Required For Nigerian Passport Interview

PH - September 21, 2017

Interviews are standard procedures conducted by the Nigerian Immigration officials for those who wants to have the passport. Listed below are important documents to take with you…

Utazi Leaf: Check Out The Health Benefits And Business Prospect Of Gongronema Latifolium
Food and Health
57 views
Food and Health
57 views

Utazi Leaf: Check Out The Health Benefits And Business Prospect Of Gongronema Latifolium

MT - September 21, 2017

  Botanically known as Gongronema Latifolium and it belongs to the Asclepiadaceae family. The Utazi leaf's origin could be traced to south-east part of Nigeria, West Africa. The…

Meet The Hyena Men of Nigeria (Photos)
Animals
177 views
Animals
177 views

Meet The Hyena Men of Nigeria (Photos)

PH - September 21, 2017

In the outskirts of the city of Abuja, the capital of Nigeria is a shantytown that cradles the controversial group of men in the country. No, they’re…

10 Factors Blocking Nigeria’s Progress, Unity
Politics
69 views
Politics
69 views

10 Factors Blocking Nigeria’s Progress, Unity

PH - September 21, 2017

Senator representing Kaduna Central Senatorial district, Shehu Sani, has listed 10 factors he said were working against the unity and progress of Nigeria. The Chairman, Senate Committee…

Checkout Adorable Photos Of Singer Omawunmi And Her Husband, Tosin Yussuf
Romance and Love
45 views
Romance and Love
45 views

Checkout Adorable Photos Of Singer Omawunmi And Her Husband, Tosin Yussuf

Mabel - September 21, 2017

Singer, Omawunmi share photos of her hubby and they both look adorable,  as we all know the singer is known for keeping her relationship away from the…

Kechi Okwuchi Comes In Sixth In The Just Concluded America’s Got Talent
Entertainment
68 views
Entertainment
68 views

Kechi Okwuchi Comes In Sixth In The Just Concluded America’s Got Talent

Mabel - September 21, 2017

The result of the America's Got Talent has been announced and 12-year-old ventriloquist, Darci Lynne Farmer took home the grand prize of $1 million and a chance…

Why Olubadan Of Ibadan Sued Governor Ajimobi And 23 Others
Politics
46 views
Politics
46 views

Why Olubadan Of Ibadan Sued Governor Ajimobi And 23 Others

Mabel - September 21, 2017

The Olubadan of Ibadan land, Oba Saliu Adetunji, has sued the Oyo State Governor Abiola Ajimobi and 23 others, over their involvements in the crowning of 21…

Nigerian Entrepreneurs Engage In Shoe Making To Curb Unemployment
Business
108 views
Business
108 views

Nigerian Entrepreneurs Engage In Shoe Making To Curb Unemployment

PH - September 21, 2017

Unemployed and facing lack of opportunities, a group of young people are now actively involved in shoe making in Nigeria’s northern city Yola. The young entrepreneurs have…

Loading...