• About
  • Advertise
  • Contact
Thursday, October 23, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

Nigeria’s Inflation Rate Hits 24.08pct

Vital News by Vital News
August 15, 2023
in Economy
0
Share on FacebookShare on Twitter

 

Amid shortage of foreign exchange, Nigeria’s inflation rate rose to 24.08% in July 2023, the highest in years.

The July 2023 rate showed an increase of 1.29% points when compared to the previous month’s which was 22.79%, the National Bureau of Statistics (NBS) said in its Consumer Price Index (CPI) report released on Tuesday.

The CPI measures the rate of change in prices of goods and services.

On July 25, 2023, the Central Bank of Nigeria (CBN) raised the Monetary Policy Rate (MPR), which measures interest rate, from 18.5 percent to 18.75%.

RelatedStories

Olubadan Set Up Committee To Revamp Moribund Industries, Revamp Abandoned Ibadan Urban Renewal Programme

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

FAAC Shares N2.103 trillion September 2025 Revenue Among FG, States, LGs

Dangote Seeks Urgent Legal Backing For “Nigeria First” Policy To Drive Growth In Manufacturing Sector

The interest rate increase occurred amid soaring food prices and rising cost of transportation occasioned by the removal of subsidy on Premium Motor Spirit (PMS) known as petrol with the price per litre jumping from N184 to about N600, more than 200% hike.

The apex bank said “hiking the interest rate has made a lot of difference in moderating the rate of inflation”.

To address the forex shortage in the country with a dollar exchanging at over N900 to the naira, Acting CBN Governor, Folashodun Shonubi, on Monday, said the apex bank would take certain steps in the next few days to improve the liquidity in the market.
(vitalnewsngr.com)

 

Tags: CBNforexinflationNigeria
Previous Post

Kogi Guber Poll : I Will Review Sack of State, LG Workers, Dino Melaye Promises

Next Post

Kenya Reinstates Fuel Subsidy

Vital News

Vital News

RelatedStories

Olubadan Set Up Committee To Revamp Moribund Industries, Revamp Abandoned Ibadan Urban Renewal Programme
Economy

Olubadan Set Up Committee To Revamp Moribund Industries, Revamp Abandoned Ibadan Urban Renewal Programme

October 23, 2025
‎IMPI Welcomes First Interest Rate Cut In Five Years, Says CBN Decision Aligns With Its Projection
Economy

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

October 22, 2025
FAAC Shares N2.22 trillion August 2025 Revenue Among Federal, States, Local Governments
Economy

FAAC Shares N2.103 trillion September 2025 Revenue Among FG, States, LGs

October 17, 2025
Dangote Seeks Urgent Legal Backing For “Nigeria First” Policy To Drive Growth In Manufacturing Sector
Economy

Dangote Seeks Urgent Legal Backing For “Nigeria First” Policy To Drive Growth In Manufacturing Sector

October 16, 2025
Capital Inflows Into Nigeria Up By 67.12% In Q1 2025
Economy

Nigeria’s Inflation Drops To 18.02pct

October 15, 2025
Next Post

Kenya Reinstates Fuel Subsidy

No Fresh Fuel Price Increase , Tinubu Assures Nigerians

No Fresh Fuel Price Increase , Tinubu Assures Nigerians

Shock As APC NWC Member Dumps Party For SDP In Kogi

Kogi Guber Poll : SDP Constitutes Campaign Council, Appoints Babanawa D-G

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Olubadan Installs Lawal As New Mogaji Of Sunkunmole Family

Olubadan Installs Lawal As New Mogaji Of Sunkunmole Family

3 years ago
Your Sacrifices Will Not Be In Vain – Bello Assures Workers On May Day

Your Sacrifices Will Not Be In Vain – Bello Assures Workers On May Day

2 years ago
Go After Terrorists, Restructure Nigeria Now – Afenifere Urges Tinubu

Cost Of Living Crisis : Group Tackles Governors On Poor Utilisation Of Tinubu Initiatives, Palliatives

1 year ago

Zulum Awards N300mln Scholarship To Orphans Of CJTFs

3 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu US
No Result
View All Result

Highlights

Dangote Group Denies Ownership Of Truck In Akungba-Akoko Accident

Former Minister, Tanimu Turaki, Emerges Northern PDP Consensus Candidate As National Chairman

Trailer Crushes Female University Lecturer To Death In Lokoja

Governor Adeleke Appoints Davido Chairman Of Osun State Sports Trust Fund

FG Warns Buyers To Stay Off ARCEDEM, Radio Nigeria Land, Four Other Landed Property In Oyo

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

Trending

Olubadan Set Up Committee To Revamp Moribund Industries, Revamp Abandoned Ibadan Urban Renewal Programme
Economy

Olubadan Set Up Committee To Revamp Moribund Industries, Revamp Abandoned Ibadan Urban Renewal Programme

by Vital News
October 23, 2025
0

The Olubadan of Ibadanland, Oba Rashidi Adewolu Ladoja has set up a committee to revamp moribund industries...

Your Exit Will Not In Anyway Affects Fortune Of PDP – Makinde To Atiku

Oyo Dares FG Over Lands, Says ARCEDEM, Radio Nigeria, NTA, NIHORT Lands Acquired In Public Interest

October 23, 2025
Professor Amupitan Resumes Office As New INEC Chairman

Professor Amupitan Resumes Office As New INEC Chairman

October 23, 2025
Dangote Denies Ownership Of Truck Involved In Enugu Accident

Dangote Group Denies Ownership Of Truck In Akungba-Akoko Accident

October 23, 2025
Former Minister, Tanimu Turaki, Emerges Northern PDP Consensus Candidate As National Chairman

Former Minister, Tanimu Turaki, Emerges Northern PDP Consensus Candidate As National Chairman

October 23, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Olubadan Set Up Committee To Revamp Moribund Industries, Revamp Abandoned Ibadan Urban Renewal Programme October 23, 2025
  • Oyo Dares FG Over Lands, Says ARCEDEM, Radio Nigeria, NTA, NIHORT Lands Acquired In Public Interest October 23, 2025
  • Professor Amupitan Resumes Office As New INEC Chairman October 23, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In