FOOD INFLATION rises to 16.66%   

Oct 15 (Lagos) - Headline Inflation rose to 13.71% y/y (0.49% higher than 13.22% y/y in August 2020)

The food sub-index rose for a thirteenth consecutive month, to 16.66% y/y from 16.00% y/y in August 2020, while the All items less farm produce sub-index also rose to 10.58% y/y from 10.52% y/y in August 2020.

Consumer Price Index (CPI) which measures inflation grew by 1.48% m/m (a rise of +0.14% from what was recorded in August 2020 of 1.34% m/m).

Here is another thing for the youth of the country to be unhappy about. CBN keep talking about agriculture push but there is very little results to be seen over the last 4 years now. Prices of rice, bread, beans and eggs keep on rising on a monthly basis. 

reporting for on Thursday, October 15 2020 from Lagos, Nigeria
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