Nigerian Inflation Edges Up to 9.3% in August

Nigeria's consumer inflation was at 9.3 percent year-on-year in August, up 0.1 percent from July, and staying above the central bank's target upper limit, the National Bureau of Statistics (NBS) said on Sunday.

Food inflation rose marginally to 10.1 percent year-on-year in August versus 10.0 percent in July.

"The marginal increase was as a result of slower increases in alcoholic beverages, tobacco and kola, health, transport and recreation and culture divisions," the NBS said.

Nigeria's inflation rate rose above the central bank's upper limit of 9 percent in June and is at the highest level since February 2013.

myfinancialintelligence.com