The National Bureau of Statistics (NBS) has just released the inflation rate for the month of August, 2016.

In August the Consumer Price Index (CPI) which measures inflation increased by 17.6% (year-on-year), 0.5% points higher from the rate recorded in July (17.1%).

The major divisions responsible for accelerating the pace of the increase in the headline index were Housing, Water, Electricity, Gas and Other Fuel, Education and Transportation Services.

The Food Index rose by 16.4 percent (year-on-year) in August, up by 0.6 percent points from 15.8 percent recorded in July. During the month, all the major food groups contributed to the increase in the Food sub-index, however the pace of increase was slowed by Fruits, Potatoes, Yam and other Tubers as well as Oils and Fats, which reported slower increases during the month. In addition, imported foods as reflected by the Imported Food Sub-index increased by 0.2% points from July to 20.7% in August.

Price movements recorded by the All Items less farm produce or Core sub-index increased by 17.2 percent (year-on-year) in August, up by 0.3 percentage points from rates recorded in July (16.9 percent).

During the month, the highest increases were seen in Solid fuels, Vehicles parts Books & Stationeries and Clothing and other articles of clothing.

On a month-on-month basis, the Headline index rose by 1.0 percent in August, marginally lower than the 1.3 percent recorded in July. This is the third consecutive month of a slower pace of increase in the Headline Index.

For more details, you can go through the full report here: http://www.nigerianstat.gov.ng/report/443

INFOGRAPHICS attached below:

cc dominique puskin

cc
lalasticlala
seun


down down we go

no economist in this current govt. just a gathering of dullards led by a grand commander of dullards

they should keep on breaking the records. those that voted him.cant afford the cost of living. they are exchanging their kids for rice in the north and and lining up for five hundred naira from kashamu in the west .. .............................as for me am braced for him. i expected this and as long internet functions in Nigeria some of us wont feel it . the illiterate voters unluckily will bear the brunt

bitter truth


keep it up. one day na one day. the british business venture called Nigeria will close

It is finished

Vicadonis:
It is finished

Who told you so?

DullardPoo, thank you!
Zombies, thank you!!
Buharideens, thank you!!!



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Why is Buhari so wicked

My God! What kind of whahala is this?
How do we start to get out of this mess?

WilliamXII:
I wonder where they pull out all these figures?!

from your pot

buhari is bae

nototribalist:
from your pot

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Lol

Luke 21:25
And there shall be signs in the sun, and in the moon, and in the stars; and upon the earth  distress of nations, with perplexity; the sea and the waves roaring;



We are going to Zimbabwe.

Sai Barber!

This gworochewingmaga dey scatter this country.

I remember when we were taught inflation in SS2 ECONS, there was no ready example for galloping inflation.
I hope the available ECONS textbooks are revised soon. The front cover should have the pictures of Buhari, Tinubu, Oshinbajo, Emefiele , Adeosun and one or two NL zombies

ok

CHAIN-JI

apc chain

Zombies would avoid this thread like kilode.
I can't pollute my post with their mentions but they know themselves.
May ur problems be astronomically inflated the way Buhari has inflated our economy.
Can I get an Amen?

Wtf

Can this institution keep quiet and save us this unnecessary hoopla, we know the economy is down and need no further exaggerated figures to prove this. This was how this same NBS keeps dishing out favorable statistics on the GEJ administration which all came to become paper economics devoid of reality.

franciskaine:
Can this institution keep quiet and save us this unnecessary hoopla, we know the economy is down and need no further exaggerated figures to prove this. This was how this same NBA keeps dishing out favorable statistics on the GEJ administration which all came to become paper economics devoid of reality.

Bross they're doing their job. If e pain you, chuk head inside sand

Eya

WilliamXII:
I wonder where they pull out all these figures?!

don't mind them. The same figures they used in hoodwinking people during the time of GEJ, painting the economy to be all beautiful while in reality doom awaits us.

J

BUHARI promised he'll fight corruption. He didn't say he'll improve the economy. It was Jonathan shouting up and down during the campaign that he'll sustain the economy