The National Bureau of Statistics has revealed that Nigeria’s inflation rate has risen to 21.09%.
The NBS in its consumer price index report for October 2022 disclosed that the CPI, which measures the rate of change in prices of goods and services, surged to 21.09% in October 2022, up from 20.77% in the previous month.
The latest figure shows that the general price level for the headline inflation rate increased in October 2022 when compared to the same month in the preceding year of October 2021 by 5.09%
To speak more on this, Muda Yusuf, the Chief Executive Officer, Centre for the Promotion of Private Enterprise joins me now. Thank you very much for joining us.