Nigeria's inflation rate rises to 12.82 pct
Source: Xinhua | 2020-08-19
Nigeria's inflation rate rose to 12.82 percent in July, up from the 12.56 percent recorded in June, according to data released Monday by the National Bureau of Statistics (NBS).
The urban inflation rate increased by 13.40 percent year-on-year in July from the 13.18 percent recorded in June, while the rural inflation rate increased by 12.28 percent from 11.99 percent, the NBS report said.
The report also said that the rise in the food index was caused by increases in prices of bread and cereals, potatoes, yam and other tubers, meat, fruits, oils and fats, as well as fish.
In addition, the highest increases were recorded in prices of medical services, passenger transport by air, pharmaceutical products, hospital services, passenger transport by road, maintenance and repair of personal transport equipment, paramedical services, and vehicle spare parts.
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