The National Bureau of Statistics (NBS) yesterday said that Nigeria inflation rate has edged higher to nine point three percent in August, compared with the nine point two percent rate in July. This was contained in August 2015 Consumer Price Index (CPI) issued from the NBS in Abuja.

According to the report, the marginal increase was as a result of slower increases in alcoholic beverages, tobacco and kola, health, transport, recreation and culture divisions. The report also stated that the pace of increases of food prices as reflected by the Food Sub-index had declined. It said that the decline contributed to the relatively slower pace of increases reflected on the year-on-year rates between July and August.

The report also stated the Food Sub-index rose by ten point one percent in August, slightly higher from ten percent in July. The report further stated that the urban index increased by nine point two percent, increasing at the same pace for three consecutive months. The rural index increased from zero point two percent points to nine point four percent, from nine point two percent in July.