Economy: Nigeria's inflation rises to 17.6%

Nigerian inflation rate accelerated to 17.6 in August 2016, compounding President Muhammadu Buhari-led federal government at finding lasting solutions to economic problems.


The Consumer price index rate in Africa’s largest economy increased to 17.6 percent in August from 17.1 percent in July, 16.5 percent in June and 15.6 percent in May, 2016, according to data released by the National Bureau of Statistics.

The significant the latest report is that there will be continuous rise in the general price level of goods and services in the country.