The headline inflation rate in Nigeria experienced a notable increase, reaching 27.33% in October 2023. This marks a continued ascent from the already high September figure of 26.72%, indicating a 0.61% point rise compared to the previous month.
A year-on-year analysis reveals a more alarming trend, with the October 2023 inflation rate standing 6.24% points higher than the 21.09% recorded in October 2022.
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