Inflation rate surged to 33.88% in October 2024, according to the latest data from the National Bureau of Statistics (NBS), reflecting a growing strain on the country’s economy.
Food and petrol price hikes pushed the rate to 33.88 percent, from 32.70 percent recorded in the previous month.
Looking at the data, month-on-month, Nigeria’s headline inflation rate in October 2024 was 2.64 percent.
This comes as food inflation rose to 39.16 percent in October 2024, from 37.77 percent in September 2024.
