{"id":56131,"date":"2024-11-15T15:32:55","date_gmt":"2024-11-15T15:32:55","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=56131"},"modified":"2024-11-15T15:32:55","modified_gmt":"2024-11-15T15:32:55","slug":"nigerias-inflation-rate-hits-33-88-nbs","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/11\/15\/nigerias-inflation-rate-hits-33-88-nbs\/","title":{"rendered":"Nigeria’s Inflation Rate Hits 33.88%\u00a0 -NBS"},"content":{"rendered":"

Patrick Idowu with Agency Report<\/strong><\/p>\n

The National Bureau of Statistics (NBS) has reported a significant surge in Nigeria\u2019s inflation rate, which rose to 33.88% in October 2024, marking a 1.18% increase from September’s 32.70%.<\/p>\n

In its Consumer Price Index and Inflation Report released on Friday, the NBS revealed that October’s inflation rate was 6.55% higher than the 27.33% recorded in the same period last year.<\/p>\n

Month-on-month inflation also climbed to 2.64%, slightly above September\u2019s 2.52%, driven by higher costs in food, housing, utilities, and transportation.<\/p>\n

Food inflation reached an alarming 39.16% year-on-year, attributed to rising prices of staples like rice, maize, yam, palm oil, and protein items such as fish and goat meat.<\/p>\n

Sokoto recorded the highest food inflation at 52.18%, while Kwara had the lowest at 31.68%.<\/p>\n

Urban areas faced steeper inflation rates at 36.38%, compared to rural areas at 31.59%.<\/p>\n

Bauchi recorded the highest overall inflation at 46.68%, while Delta had the lowest at 27.85%.<\/p>\n

The NBS cited the deregulation of petrol prices and increases in the cost of essential goods and services as significant contributors.<\/p>\n

The agency emphasized the urgent need for economic measures to address the rising cost of living and its impact on Nigerians.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Patrick Idowu with Agency Report The National Bureau of Statistics (NBS) has reported a significant surge in Nigeria\u2019s inflation rate, which rose to 33.88% in October 2024, marking a 1.18% increase from September’s 32.70%. In its Consumer Price Index and Inflation Report released on Friday, the NBS revealed that October’s inflation rate was 6.55% higher […]<\/p>\n","protected":false},"author":7,"featured_media":56132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-56131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/56131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=56131"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/56131\/revisions"}],"predecessor-version":[{"id":56153,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/56131\/revisions\/56153"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/56132"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=56131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=56131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=56131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}