Nigeria’s rate of inflation, which is measured by the country’s
Consumer Price Index, rose to twelve-point-two-eight per cent in the
month of July 2020, the highest ever recorded for the past
twenty-seven months.
According to the National Bureau of Statistics in its July 2020 CPI
and Inflation report released on Monday, the latest increase
represents zero-point-two-six per cent points higher than the rate
recorded in June 2020, which was twelve-point-five-six per cent.
Nigeria’s inflation rate has been on the increase since the beginning
of this year.

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