Inflation Rises to 12.82%

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By James Emejo

The Consumer Price Index, (CPI) which measures inflation increased to 12.82 per cent (year-on-year) in
July compared to 12.56 per cent in the preceding month, according to the National Bureau of Statistics (NBS).
The NBS attributed the 0.26 per cent uptick in the headline index to increases in all the he parameters that determine inflation.
According to the CPI figures for July, which was released Monday, the composite food index increased to 15.48 per cent in July 2020 compared to 15.18 per cent in June in the review period.
On the other hand, core inflation, which excludes the prices of volatile agricultural produce stood at 10.10 per cent in July, down by 0.03 per cent when compared with 10.13 per cent recorded in June.

Details later…