• News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
MSME Africa
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
MSME Africa
No Result
View All Result

Headline Inflation in Nigeria Increases By 13.22% YoY In August 2020

MSME Africa by MSME Africa
September 16, 2020
in Business, Economy, News, Reports
0
Headline Inflation in Nigeria Increases By 13.22% YoY In August 2020
Share

According to the latest reports from the National Bureau of Statistics (NBS), the consumer price index, (CPI) which measures inflation increased by 13.22 percent (year-on-year) in August 2020. This is 0.40 percent points higher than the rate recorded in July 2020 (12.82 percent).

Increases were recorded in all COICOP divisions that yielded the Headline index.

On a month-on-month basis, the Headline index increased by 1.34 percent in August 2020. This is 0.09 percent higher than the rate recorded in July 2020 (1.25 percent).

The percentage change in the average composite CPI for the twelve months period ending August 2020 over the average of the CPI for the previous twelve months period was 12.23 percent, representing a 0.18 percent point rise from 12.05 percent recorded in July 2020.

The urban inflation rate increased by 13.83 percent (year-on-year) in August 2020 from 13.40 percent recorded in July 2020, while the rural inflation rate increased by 12.65 percent in August 2020 from 12.28 percent in July 2020.

On a month-on-month basis, the urban index rose by 1.42 percent in August 2020, up by 0.15 from 1.27 percent recorded in July 2020, while the rural index also rose by 1.27 percent in August 2020, up by 0.04 from the rate recorded in July 2020 (1.23 percent).

The corresponding twelve-month year-on-year average percentage change for the urban index was 12.85 percent in August 2020. This is higher than 12.66 percent reported in July 2020, while the corresponding rural inflation rate in August 2020 was 11.66 percent compared to 11.49 percent recorded in July 2020

Source : PROSHARE

Post Views: 2
Share

Related Posts:

  • JUST IN: Nigeria’s inflation rate rises to 33.88% in October 2024
    JUST IN: Nigeria’s inflation rate rises to 33.88% in…
  • images (48)
    Presenting the 2022 Partech Africa Report: Resilient…
  • Nigeria’s inflation rate rises to 32.70%
    Nigeria’s inflation rate rises to 32.70%
  • Urban inflation in August 2024 reached 34.58% year-on-year,
    Nigeria inflation rate slowed 32.15% year-on-year in…
  • Nigeria's inflation rate news today
    Nigeria's inflation rate hits highest point since 2005
  • Nigeria’s Inflation Drops to 24.48% After CPI Rebasing
    Nigeria’s Inflation Drops to 24.48% After CPI Rebasing
Tags: InflationMSME AfricaNational Bureau of Statistics
Previous Post

Ecobank Nigeria Announces Lead Speakers for Regional Trade Conference

Next Post

LCCI to Host ICTEL Expo 2020 on September 22 & 23, 2020

Next Post
LCCI to Host ICTEL Expo 2020 on September 22 & 23, 2020

LCCI to Host ICTEL Expo 2020 on September 22 & 23, 2020

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result
Join MSME on Whatsapp
Subscribe To Our Newsletter
Enter your email to receive a weekly round-up of our best posts. Learn more!
icon
By subscribing, you agree with our privacy policy and our terms of service.

Recent Posts

  • Nigeria exits IMF Debtor List
  • HortiNigeria Trains 70,000 Farmers, Mobilises £4 Millon for Horticulture Growth
  • Court Dismisses MultiChoice Request to Uphold ‘GOtv, DStv Price Increases’ in Nigeria
  • Scalepad Marks major Milestone: Supports Over 50 Businesses in Expansion Across Africa and the U.S.
  • Nigerian Senate Passes Two Tax Reform Bills To Modernize Nigeria’s Fiscal Framework ,Retains VAT at 7.5%

Recent Comments

  • 10 Reasons Why SMEs Should Invest in Video Marketing - MSME Africa on How to Create Viral Videos for Social Media in 2024
  • link alay4d on 5 Nigerian-based Companies Providing Accelerator Programs for Startups in 2024
  • Damilare Oladeji on Nigerian Government Agencies that Support Entrepreneurship in 2024
  • situs alay4d on 50 Best Tools to Boost Your Productivity as an Entrepreneur in 2024
  • Otabor Osayomore Blessing on Ultimate 2024 Guide to the Top Business Enabling Cities for Startup Founders and Entrepreneurs in Nigeria
  • About us
  • Advertise with us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.

No Result
View All Result
  • About us
  • Advertise with us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.