Connect with us

News

BREAKING: Inflation increased by 13.71 per cent in September

Published

on

The consumer price index (CPI) which measures inflation increased by 13.71 percent (year-on-year) in September 2020.

The National Bureau of Statistics (NBS) disclosed this on its “CPI and Inflation Report September 2020,” on Thursday.

It said the CPI is 0.49 percent points higher than the rate recorded in August 2020 (13.22) percent.

According to the report, increases were recorded in all Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the Headline index.

The report added: “On a month-on-month basis, the Headline index increased by 1.48 percent in September 2020. This is 0.14 percent rate higher than the rate recorded in August 2020 (1.34) percent.”

NBS said the percentage change in the average composite CPI for the twelve months period ending September 2020 over the average of the CPI for the previous twelve months period was 12.44 percent, showing 0.21 percent point from 12.23 percent recorded in August 2020.

The report reads in part: “On a month-on-month basis, said thr report, the urban index rose by 1.56 percent in September 2020, up by 0.14 from 1.42 percent recorded in August 2020, while the rural index also rose by 1.40 percent in September 2020, up by 0.13 from the rate recorded in August 2020 (1.27 percent).
“The urban inflation rate increased by 14.31 percent (year-on-year) in September 2020 from 13.83 percent recorded in August 2020, while the rural inflation rate increased by 13.14 percent in September 2020 from 12.65 percent in August 2020.
“The corresponding twelve-month year-on-year average percentage change for the urban index is 13.07 percent in September 2020. This is higher than 12.85 percent reported in August 2020, while the corresponding rural inflation rate in September 2020 is 11.86 percent compared to 11.66 percent
recorded in August 2020.
“On a month-on-month basis, the Headline index increased by 1.48 percent in September 2020. This is 0.14 percent rate higher than the rate recorded in August 2020 (1.34) percent.
Increases were recorded in all COICOP divisions that yielded the Headline index.
“The consumer price index, (CPI) which measures inflation increased by 13.71 percent (year-on-year) in September 2020. This is 0.49 percent points higher than the rate recorded in August 2020 (13.22) percent.”

0 Users (0 votes)
Criterion 10
What people say... Leave your rating
Sort by:

Be the first to leave a review.

User Avatar
Verified
{{{ review.rating_title }}}
{{{review.rating_comment | nl2br}}}

Show more
{{ pageNumber+1 }}
Leave your rating

Your browser does not support images upload. Please choose a modern one

Click to comment

Leave a Reply

Your email address will not be published.

News

Sanwo-olu finally shuts down Lagos schools amidst protest.

Published

on

By

The Lagos state government has directed all pupils and students in public and private schools to stay at home following the tension generated by the #EndSARS protests.

The Nation reports that the state commissioner for education, Folasade Adefisayo, who issued the directive, said the safety of the pupils/students, parents, and all staff working in schools was paramount “at this critical period.” Legit.ng gathered that she, however, advised parents to keep an eye on their wards and not allow them to be used as willing tools in the hands of those who might want to hijack the protests to unleash mayhem on the society. The commissioner also encouraged schools to utilise other means of distance teaching and learning such as radio, television and online media as they have been doing during and post COVID-19 lockdown. Adefisayo said that a new date of resumption for all classes would be announced as soon as possible. Legit.ng had earlier reported that all secondary and primary schools including tertiary institutions in Lagos may be shut down by the state government if the demonstrations by the EndSARS protesters continue.

Nigerian Tribune had reported that the government said that the measure would be taken to ensure the safety of the students and the school workers. The newspaper had said that the head of the public affairs unit of the state’s ministry of education, Kayode Abayomi, confirmed it in an exclusive interview in the evening on Monday, October 19. He said the idea was conceived by the state’s ministry of education and already sold to Governor Babajide Sanwo-Olu for consideration and approval. He said the closure would start the moment the approval is given.

Abayomi said:

“So, we are waiting for Mr governor for approval.” He explained that the ministry would not want to put the lives of students and school workers in danger. He said the dimension of the #EndSARs protest especially in the state as it is becoming more intense each day warranted the move.

He said if the approval is given, the students would be home until normalcy return to the state and the country by extension.

0 Users (0 votes)
Criterion 10
What people say... Leave your rating
Sort by:

Be the first to leave a review.

User Avatar
Verified
{{{ review.rating_title }}}
{{{review.rating_comment | nl2br}}}

Show more
{{ pageNumber+1 }}
Leave your rating

Your browser does not support images upload. Please choose a modern one

Continue Reading

Trending