{"id":11290,"date":"2020-08-18T10:36:04","date_gmt":"2020-08-18T10:36:04","guid":{"rendered":"https:\/\/www.funminews.com\/?p=11290"},"modified":"2020-08-18T10:36:04","modified_gmt":"2020-08-18T10:36:04","slug":"nigeria-inflation-hits-11-months-high-to-12-82-in-july","status":"publish","type":"post","link":"https:\/\/www.funminews.com\/index.php\/2020\/08\/18\/nigeria-inflation-hits-11-months-high-to-12-82-in-july\/","title":{"rendered":"Nigeria Inflation Hits 11 Months High to 12.82% in July"},"content":{"rendered":"\n

Nigeria’s inflation rate rose year-on-year (YoY) by 0.26% point to 12.82% in July this year from 12.56% in June. This represents the eleventh consecutive monthly rise in inflation rate since October 2019.<\/strong><\/p>\n\n\n\n

Similarly, food inflation rose by 0.3% point to 15.48% in July from 15.18% the previous month.<\/p>\n\n\n\n

The National Bureau of Statistics (NBS) disclosed this in its Consumer Price Index (CPI) Report for July 2020.<\/p>\n\n\n\n

The report stated: \u201cIncreases were recorded in all Classification of Individual Consumption by Purpose, COICOP divisions that yielded the Headline index.<\/p>\n\n\n\n

“On month-on-month basis, the Headline index increased by 1.25% in July 2020. This is 0.04% rate higher than the rate recorded in June 2020 (1.21%).<\/p>\n\n\n\n

“The percentage change in the average composite CPI for the twelve months period ending July 2020 over the average of the CPI for the previous twelve months period was 12.05%, representing a 0.15% point increase from 11.90% recorded in June 2020.<\/p>\n\n\n\n

“The urban inflation rate increased by 13.40% (YoY) in July 2020 from 13.18% recorded in June 2020, while the rural inflation rate increased by 12.28% in July 2020 from 11.99% in June 2020.<\/p>\n\n\n\n

“On a month-on-month basis, the urban index rose by 1.27% in July 2020, up by 0.04 from 1.23% recorded in June 2020, while the rural index also rose by 1.23% in July 2020, up by 0.04 from the rate recorded in June 2020 (1.19%).<\/p>\n\n\n\n

“On a month-on-month basis, the urban index rose by 1.27% in July 2020, up by 0.04 from 1.23% recorded in June 2020, while the rural index also rose by 1.23% in July 2020, up by 0.04 from the rate recorded in June 2020 (1.19%).”<\/p>\n\n\n\n

On food index, the bureau said, “The composite food index rose by 15.48% in July 2020 compared to 15.18% in June 2020.<\/p>\n\n\n\n

“The average annual rate of change of the Food sub-index for the twelve-month period ending July 2020 over the previous twelve-month average was 14.63%, 0.17% points from the average annual rate of change recorded in June 2020 (14.46%).<\/p>\n\n\n\n

“This rise in the food index was caused by increases in prices of bread and cereals, potatoes, yam and others, tubers, meat, fruits, oils and fats, and fish.”<\/p>\n\n\n\n

Source: All Africa<\/p>\n","protected":false},"excerpt":{"rendered":"

Nigeria’s inflation rate rose year-on-year (YoY) by 0.26% point to 12.82% in July this year from 12.56% in June. This represents the eleventh consecutive monthly rise in inflation rate since October 2019. Similarly, food inflation rose by 0.3% point to 15.48% in July from 15.18% the previous month. The National Bureau of Statistics (NBS) disclosed […]<\/p>\n","protected":false},"author":2,"featured_media":11291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,4,3,1],"tags":[],"class_list":["post-11290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","category-naija-news","category-uncategorized"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.funminews.com\/wp-content\/uploads\/2020\/08\/Inflation-Index.jpg?fit=615%2C352&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts\/11290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/comments?post=11290"}],"version-history":[{"count":0,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts\/11290\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/media\/11291"}],"wp:attachment":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/media?parent=11290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/categories?post=11290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/tags?post=11290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}