The National Bureau of Statistics (NBS) says the consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 32.7 per cent in the month of September.
The latest inflation data is contained in the NBS CPI report for September, released on Tuesday.
The September increase is the first in three months, having previously witnessed a decline in two previous months this year.
The NBS said the CPI increased by 0.55 per cent (month-on month) compared to the August headline inflation rate.
“On a year-on-year basis, the Headline inflation rate was 5.98% points higher compared to the rate recorded in September 2023 (26.72%),” the report read in part.
Continuing, the NBS said: “This shows that the Headline inflation rate (year-on year basis) increased in September 2024 when compared to the same month in the preceding year (i.e., September 2023).
“Furthermore, on a month-on-month basis, the Headline inflation rate in September 2024 was 2.52%, which was 0.30% higher than the rate recorded in August 2024 (2.22%).
“This means that in September 2024, the rate of increase in the average price level is higher than the rate of increase in the average price level in August 2024.”
