The National Bureau of Statistics just released the following data on inflation.

Inflation rate for the month of August is 17.6% (year-on-year), 0.5% points higher from the rate recorded in July (17.1%).
Increases were recorded in all COICOP divisions which contribute to the Headline index reflecting higher prices across the board.
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.


READ MORE: http://nairametrics.com/official-nigerias-august-inflation-rate-is-17-6/


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