The National Bureau of Statistics (NBS) has said the Consumer Price Index (CPI), measuring inflation for October decreased to 0.74 per cent (month-on-month) from 0.83 per cent recorded in September.
The NBS disclosed this in its “CPI and Inflation Report” for October released in Abuja on Wednesday.
The figure is 0.09 per cent points less than the rate recorded in September, according to the Bureau.
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The Bureau said the urban inflation rate decreased to 11.64 percent (year-on-year) in October from 11.70 per cent recorded in September while the rural inflation rate increased by 10.93 per cent in October from 10.92 per cent recorded in September.
On a month-on-month basis, the urban index decreased to 0.76 per cent in October, from 0.86 per cent recorded in September, it stated, adding that the rural index equally rose by 0.72 per cent in October, down from the rate recorded in September (0.82) per cent.
