Inflation rate drops to 15.91 in October, says NBS

Inflation Market Lagos

The National Bureau of Statistics (NBS) on Wednesday said the Consumer Price Index which measures inflation stood at 15.91 per cent in October compared to 15.98 per cent in September.

According to the report, this is the ninth consecutive month since January this year that the index would be slowing down.

The bureau said food index increased by 20.31 percent year-on-year in October, down marginally by 0.01 percent points from the 20.32 per cent recorded in September.

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