The National Bureau of Statistics (NBS) has announced that consumer price index, which measures inflation, rose to 14.23 percent in October.
This new rate, which is an increase from the previous rate by 0.52% points, is the highest recorded since July 2016 when the inflation rate rose by 0.65% points.
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Inflation, or consumer price index, measures the rate at which the prices of goods and services increase over a period of time.
According to the October CPI/Inflation report released on Monday, it as shown that food inflation hit 17.38 percent from 16.66 percent in September.
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The NBS said the rise in the food index was caused by increases in prices of bread and cereals, potatoes, yam and other tubers, meat, fish, fruits, vegetable, alcoholic and food beverages and oils and fats.
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