TechnologyHeadline Inflation Increases by 17.01% YoY in August 2021,...

Headline Inflation Increases by 17.01% YoY in August 2021, 0.37% Lower Than July 2021 Rate – NBS

-

- Advertisment -spot_imgspot_imgspot_img

The consumer price index, (CPI) which measures inflation increased by 17.01 percent (year-on-year) in August 2021. This is 0.37 percent points lower than the rate recorded in July 2021 (17.38) percent.

On month-on-month basis, the Headline index increased by 1.02 percent in August 2021, this is 0.09 percent rate higher than the rate recorded in July 2021 (0.93) percent.

The percentage change in the average composite CPI for the twelve months period ending August 2021 over the average of the CPI for the previous twelve months period was 16.60 percent, showing 0.30 percent point from 16.30 percent recorded in July 2021.

The urban inflation rate increased by 17.59 percent (year-on-year) in August 2021 from 18.01 percent recorded in July 2021, while the rural inflation rate increased by 16.43 percent in August 2021 from 16.75 percent in July 2021.

On a month-on-month basis, the urban index rose by 1.06 percent in August 2021, up by 0.08 the rate recorded in July 2021 (0.98), while the rural index also rose by 0.99 percent in August 2021, up by 0.12 the rate that was recorded in July 2021 (0.87) percent.

The corresponding twelve-month year-on-year average percentage change for the urban index is 17.19 percent in August 2021. This is higher than 16.89 percent reported in July 2021, while the corresponding rural inflation rate in August 2021 is 16.03 percent compared to 15.73 percent recorded in July 2021.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Man sentenced to life imprisonment after impregnating 15-year-old daughter

Ekpo Lawrence, 42, was convicted and sentenced to life in prison by the Lagos State Domestic Violence and Sexual...

Price of oil surpasses $90 per barrel, first time since 2014

Brent oil exceeded $90 per barrel on Wednesday, reaching its highest level in more than seven years, roiled by...

Catholic priests declare homosexuality practice, advocate against discrimination

OpenLife Nigeria reports that more than 100 Catholic church officials in Germany came out as lesbian, gay, bisexual, and...

Unknown gunmen abduct Bayelsa State Commissioner for trade

The Bayelsa State Commissioner for Trade and Commerce, Otokito Federal Oparmiola, has been kidnapped by unknown gunmen. Gunmen allegedly kidnapped...
- Advertisement -spot_imgspot_imgspot_img

Oyo set to re-introduce school governing boards

The last administration headed by Senator Abiola Ajimobi introduced school governing boards in all public secondary schools in the...

Oritsedere Otubu takes over as chairman of EKEDC board of directors

Oritsedere Otubu has been named chairman of the board of directors of the Eko Electricity Distribution Company (EKEDC). The declaration...

Must read

Man sentenced to life imprisonment after impregnating 15-year-old daughter

Ekpo Lawrence, 42, was convicted and sentenced to life...

Price of oil surpasses $90 per barrel, first time since 2014

Brent oil exceeded $90 per barrel on Wednesday, reaching...
- Advertisement -spot_imgspot_img

You might also likeRELATED
Recommended to you